I am six weeks into the sale of my flat in Shillington and the EA has just telephoned to advise that the buyers are changing their law firm. I am told that this is due to the fact that the bank will only work with property lawyers on their approved list. On what basis would a leading mortgage company only engage with specific solicitors rather the firm that they want to appoint for their conveyancing in Shillington ?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks justify this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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 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. The purchasers are not going to have any impact on this.
My partner and I intend to remortgage our flat in Shillington with Yorkshire BS. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two questions (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Yorkshire BS. This is solely used to protect Yorkshire BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Yorkshire BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We are intent on selling our property in Shillington and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Shillington lawyer would know that there is no such problem. For the life of me I don't know why the buyers used a factory type conveyancing practice rather than a conveyancing solicitor in Shillington. Having lived in Shillington for 5 years we know that this is a non issue. Should we contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I am purchasing my first flat in Shillington with a mortgage from Birmingham Midshires. The sellers refused to move on the amount so I negotiated 6k of extras instead. The estate agent advised me not disclose to my lawyer about the extras as it could put at risk my mortgage with Birmingham Midshires. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it possible to swap firm as I need to appoint one who is on the Aldermore conveyancing list. I had appointed a high street conveyancing solicitor in Shillington round the corner but he is not accepted by Aldermore
It would be our pleasure to help you select a conveyancing solicitor in Shillington on the Aldermore panel. Please note that the property lawyers that we on the directory do not pay us a referral fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Shillington. In making use of search facility on this website, you can scrutinise charges for conveyancing solicitors in Shillington and beyond.
I purchased a property in Shillington last 21/2/2022 and to date it is still not recorded with the Land Registry. It was part of a new estate and my conveyancer told me that it can take one year to complete the registration formalities. I have called HMLR directly and they have informed me the original application was cancelled due to failure to reply to requisitions. What can I do?
It is your lawyer that you should contact in order to satisfy any concerns which have been raised as part of the registration process for your Shillington property. Normal Shillington conveyancing practice includes an undertaking on the part of the vendor’s conveyancing practitioner that they will help resolve any requirements raised by HMLR so it may be a case of seeking to enforce that undertaking in some way.