I am progressing with the sale of my maisonette in Sandown and the EA has just text me to warn that the buyers are swapping law firm. The reason given is that the mortgage company will only work with property lawyers on their conveyancing panel. Why would a big named mortgage company only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Sandown ?
Lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
We note that you have a search directory identifying firms on the Aldermore conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Sandown?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Sandown.
What is the difference between a licensed conveyancer and conveyancing solicitor in Sandown
There are many registered licenced Conveyancers in Sandown and Solicitor practices in Sandown who provide Conveyancing services It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. The two can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a ground floor flat in Sandown. Do I pick up the keys to the premises on the completion date from my conveyancer? If so, I will appoint a local conveyancing solicitor in Sandown?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s lawyers, and once they have received this, you should be invited to pick up the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
is it true that all Sandown conveyancing solicitors on the Bank of Ireland conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be governed by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be governed by the CLC.
About to purchase a new build flat in Sandown. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Sandown
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
As co-executor for the will of my aunt I am selling a property in Neath but I am based in Sandown. My solicitor (based 300 miles awayrequires that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Sandown who can attest and place their company stamp on the document?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are based in Sandown
As a tenant I am on the hook for a service charge for my ground floor flat in Sandown. As a result of poor financial planning I slipped behind with payments. I negotiated a settlement schedule but there is still about £2000 currently outstanding.
I want to sell and I am worried this may threaten to derail the sale if I have to discharge the arrears now. Do I have to settle before - is this viable?
It would be wise to clarify with the solicitor undertaking your Sandown conveyancing but it may be possible to agree for the arrears to be attributed to the purchasers. The purchase price they pay would be reduced to reflect the amount of debt they take on. They would then deal with the fees post completion of the sale.