I am selling my apartment in Shaftesbury and the EA has just text me to say that the purchasers are appointing a new property lawyer. The reason given is that the lender will only work with solicitors on their conveyancing panel. On what basis would a major lender only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Shaftesbury ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders attribute this action to a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say 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 do not even realise 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 impact on this.
AssumingI were to acquire a simple residential housein Shaftesbury for cash and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Shaftesbury?
The only saving you would make on is the Shaftesbury conveyancing searches. Your solicitor is required to do the vast majority of work - money laundering, correspond with the vendors conveyancer, SDLT submission, register the property etc. A marginal saving might be made by not needing to register a mortgage but it will not be meaningful.
I am assisting my sister sell her flat in Shaftesbury. Will the conveyancer arrange an EPC or do I organise this?
Following the demise of Home Packs, EPC’s was maintained a compulsory component of moving house. An energy performance certificate needs to be to hand before the property is advertised. This is not a task that conveyancers ordinarily arrange. If you are instructing a Shaftesbury conveyancing solicitor they might be able to arrange EPC’s given their relationships with reputable local energy assessors
This question may be naive but I am unseasoned as a 1st time purchaser of a garden flat in Shaftesbury. Do I pick up the keys to the premises on completion from my solicitor? If so, I will instruct a local conveyancing solicitor in Shaftesbury?
On the day of completion you will not be required to go to the conveyancers office in Shaftesbury. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s conveyancers, and once they have received this, you should be invited to receive the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
We had selected conveyancing lawyers based in Shaftesbury on the Clydesdale solicitor approved list. They have just billed me a separate amount for handling the Clydesdale mortgage. Is this an additional conveyancing fee specified by Clydesdale?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer is entitled to levy a fee for this. The fee is not set by Clydesdale but by your Shaftesbury solicitor. Some firms on the Clydesdale panel will quote an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
How does conveyancing in Shaftesbury differ for new build properties?
Most buyers of new build or newly converted property in Shaftesbury approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Shaftesbury tend to 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 accustomed to new build conveyancing in Shaftesbury or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Shaftesbury is the location of the property. Can you offer any opinion?
Flying freeholds in Shaftesbury are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shaftesbury you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shaftesbury may determine 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 residence.
I am using a search engine for the term cheap conveyancing in Shaftesbury it shows results of many solicitorslocally. With so much choice what is the best way to find the suitable solicitor for the sale of my house?
The best method of choosing the right conveyancer is via personal testimonial, so seek the opinion of friends and family who have bought a property in Shaftesbury or a local estate agent or financial adviser. Costs for conveyancing in Shaftesbury differ, so it's advisable to secure at least three quotes from varying types of solicitors. Dont forget to clarify that the fees are fixed.