I am in the process of selling my ground floor flat in Valley and the EA has just e-mailed to say that the buyers are changing their solicitor. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in Valley ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to oversee. 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 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 unlikely to have any sway in the decision.
What is the first thing I need to know concerning purchase conveyancing in Valley?
You may not hear this from too many lawyers but conveyancing in Valley and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists lots of room for friction between you and other parties involved in the legal transfer of property. For example, the vendor, selling agent and sometimes your mortgage company. Appointing a law firm for your conveyancing in Valley is a critical decision as your conveyancer is your adviser, and is the SOLE person in the process whose role it is to act in your best interests and to protect you.
There is a distinct creep in the "blame" culture- someone must be blamed for the process taking so long. You your first instinct should be to trust your lawyer above all other players in the home moving process.
I used Wolstenholmes several years ago for my conveyancing in Valley. Now, I need the files but cannot find the solicitor. What do I do?
Do call 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 Valley 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.
Due to the input of my in-laws I had a survey completed on a property in Valley ahead of instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some lenders may not grant a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Valley. Conveyancing will be smoother if you use a solicitor in Valley especially if they are familiar with such properties in Valley.
My husband and I are four weeks into a freehold purchase having been recommend to a firm by the estate agent to carry out the conveyancing in Valley. I am am very frustrated with the quality of service. Could you help me find new conveyancers?
A solicitor would have to be really poor in order to consider changing them. Has your mortgage been sent? In the event that it has you need to advise them of the new lawyer and get the offer are re-issued. The solicitor ideally should be on the mortgage company panel to avoid supplemental costs and complications. That should be your first question of the new solicitors. The search tool should help you find a bank approved solicitor for your home move in Valley
What advice can you give us when it comes to appointing a Valley conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Valley conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Valley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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Can they put you in touch with clients in Valley who can give a testimonial? If the firm is not ALEP accredited then what is the reason?
Valley Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
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This information is helpful as a) areas could cause problems for the building as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will need to have full disclosure Who are the managing agents? Are any of leasehold owners in arrears of their service charge payments?