I am selling my apartment in Stanley and the estate agent has just e-mailed to warn that the buyers are switching property lawyer. The reason given is that the mortgage company will only engage with property lawyers on their approved list. On what basis would a big named mortgage company only deal with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Stanley ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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. The buyers are not going to have any impact on this.
I used Arc property Solicitors a few years ago for my conveyancing in Stanley. I now require my papers however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Stanley 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 Stanley differ for new build properties?
Most buyers of new build property in Stanley come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Stanley usually acquire the land, 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 conveyancing solicitors 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 Stanley 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 two weeks back in what should have been a straight forward, chain free conveyancing. Stanley is the location of the property. Can you offer any guidance?
Flying freeholds in Stanley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stanley you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stanley 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.
I'm refinancing my current property to a BTL mortgage with Clydesdale and intend to use the remaining equity as a deposit on a second property. The neighborhood we are talking about is Stanley. Will your conveyancers be able to act for the two lenders and link together the two deals?
Do use our comparison tool on this site to check that the conveyancers are approved by both banks. Having checked that they are your conveyancer will be able to tie up the two deals but you should have a chat with you solicitor and make clear your expectations and requirements.
My husband and I are new to the buying process - agreed a price, but the selling agent informed us that the vendor will only move forward if we instruct the agent's recommended conveyancers as they need an ‘expedited deal’. We would rather use a family solicitor used to conveyancing in Stanley
It is improbable the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is going to damage their objectives. Try to communicate with the owners directly and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you intend to instruct your preferred Stanley conveyancing lawyers - rather thanthose that will provide the negotiator at the agency a kickback or achieve conveyancing thresholds set by head office.