I am in the process of selling my ground floor flat in Uckfield and the estate agent has just called to warn that the purchasers are appointing a new conveyancer. The reason given is that the mortgage company will only deal with property lawyers on their approved list. On what basis would a big named mortgage company only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Uckfield ?
Lenders have always had an approved set of law firms that can represent them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders attribute this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. 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. Plenty of firms 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 impact on this.
My lawyer has discovered a defect with the lease for the apartment we are purchasing in Uckfield. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must ensure that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
After weeks of negotiation I have agreed a price on an apartment in Uckfield. My mortgage broker suggested a property lawyer. I paid an upfront payment of £175. Not long after, the property lawyer contacted me embarrassingly acknowledging that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
About to purchase flat in Uckfield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Uckfield conveyancer is on the Coventry BS conveyancing panel.
At last I have had an offer on a flat in Uckfield accepted, the sellers do however have a tied purchase. The sellers have offered on somewhere, however it’s not yet tied up, and have viewings of other apartments in the pipeline. I have chosen a local conveyancing solicitor in Uckfield. What do I do now? When do I get the mortgage application with Lloyds started?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Uckfield conveyancing search fees, etc). The first course of action is to ensure that your lawyer is on the Lloyds conveyancing panel. As to the next phase this very much dictated by the uniqueness of your transaction, attraction to the property and on the state of the market. During a hot market some home buyers would apply for the mortgage with Lloyds and arrange for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
Have completed on a a terraced house in Uckfield , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Uckfield conveyancing solicitor works at snail pace, so I want to be sure that my name is registered.
As far as conveyancing in Uckfield is concerned, registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can vary subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any other persons or bodies. At present in the region of 80% of such applications are completed within two weeks but some can be subject to extensive delays. Historically registration occurs after the purchaser has moved in to the premises thus registration formalities is not usually an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor must speak with the land registry and explain the circumstances.
I opted to have a survey completed on a property in Uckfield prior to retaining lawyers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some banks tend refuse to give a loan on this type of house.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Uckfield. Conveyancing will be smoother if you use a solicitor in Uckfield especially if they are accustomed to such properties in Uckfield.
I purchased a house in Uckfield last 7/9/2020 and to date it is still not registered with HMLR. It was part of a new estate and my conveyancer told me that it can take 12 months to register. I have called HM Land Registry directly and they have informed me the initial application was cancelled due to questions not being addressed in time. What can I do?
It is your conveyancer that you should contact in order to satisfy any questions which have been raised as part of the registration process for your Uckfield property. Normal Uckfield conveyancing practice includes an undertaking on the part of the seller's property lawyer that they will assist in resolving any question raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.