I am progressing with the sale of my flat in Sawston and the EA has just called to warn that the buyers are changing their law firm. The reason given is that the mortgage company will only work with solicitors on their approved list. On what basis would a leading lender only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Sawston ?
Mortgage companies have always had panels of law firms that can act for them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some 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 buyers are not going to have any sway in the decision.
I have been told that property searches are a common cause of stalling in Sawston house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Sawston.
I used Arc property Solicitors several years past for my conveyancing in Sawston. Now, I need my documents however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Sawston of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Sawston differ for new build properties?
Most buyers of new build or newly converted property in Sawston contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Sawston usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sawston or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, chain free conveyancing. Sawston is the location of the property. Can you shed any light on this issue?
Flying freeholds in Sawston are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sawston you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sawston may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In my capacity as executor for the estate of my grandfather I am disposing of a house in Swansea but I am based in Sawston. My conveyancer (who is 300 miles awayrequires that I execute a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in Sawston who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are located in Sawston