I am one month into the sale of my flat in Shard End and the estate agent has just text me to say that the buyers are appointing a new conveyancer. The reason given is that the lender will only deal with solicitors on their approved list. On what basis would a major lender only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Shard End ?
Banks have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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 purchasers are unlikely to have any sway in the decision.
Do all mortgage companies provide you with an approved list of Shard End conveyancing solicitors? How do you know who is on the RBS conveyancing panel?
Shard End conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
I have todaybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Shard End for a purchase of a leasehold apartment 12 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Shard End conveyancing specialists.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Shard End I like with a park and station in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Shard End in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan that many years will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
We are 3 weeks into a leasehold purchase having been recommend to a firm by the estate agent to do our conveyancing in Shard End. I am am extremely dissatisfied with the level of service. Could you help me find new conveyancers?
They would need to be really poor in order to consider replacing them. Has your loan offer been generated? In the event that it has you must inform them of the new contact details and get the offer are re-issued. Your solicitor ideally needs to be on the mortgage company approved list to avoid supplemental costs and complications. So that should be your first question of the new lawyers. Our search tool will assist you in finding a lender approved solicitor for your conveyancing in Shard End
I am buying a house mortgage free. I have provided lawyer with 2 distinct evidence of photographic ID, bank statement, endless utility bills. Now he wants a copy from a probate lawyer advising that the money is in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Shard End conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.