I am in the process of selling my house in West Bridgford and the estate agent has just telephoned to say that the buyers are swapping conveyancer. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. Why would a major mortgage company only engage with specific law firms rather the firm that they want to appoint for their conveyancing in West Bridgford ?
Mortgage companies have always had an approved set of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks justify this action to a rise in fraud as the reason for the reduction – 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 claims that 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 purchasers are not going to have any sway in the decision.
Various online forums that I have visited warn that are the primary cause of obstruction in West Bridgford house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in West Bridgford.
My wife and I have a terraced Georgian house in West Bridgford. Conveyancing solicitor acted for me and Britannia. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in West Bridgford and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
Due to the encouragement of my in-laws I had a survey completed on a house in West Bridgford prior to instructing solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies tend refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in West Bridgford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in West Bridgford to see if the conveyancing will be more expensive.
How difficult is it to transfer to a new firm as I need to select one who is on the Barnsley Building Society conveyancing list. I hired a local conveyancing solicitor in West Bridgford round the corner but he is not approved by Barnsley Building Society
We will our best to assist in finding you a conveyancing solicitor in West Bridgford on the Barnsley Building Society panel. Please note that the law firms that we work with do not pay us a referral fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in West Bridgford. In making use of search facility on this website, you can scrutinise costs for conveyancing solicitors in West Bridgford and beyond.
My husband and I are first time buyers - had an offer accepted, yet the selling agent advised that the vendor will only proceed if we instruct their chosen solicitors as they want a ‘quick sale’. My instinct tells me that we should use a local solicitor who is accustomed to conveyancing in West Bridgford
It is highly unlikely the vendors are behind this. If they require ‘a quick sale', turning down a genuine buyer is not the way to achieve this. Contact the owners directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to appoint your own,trusted West Bridgford conveyancing firm - not the ones that will provide the negotiator at the agency a kickback or achieve conveyancing targets demanded by head office.