I am progressing with the sale of my house in Wigan and the EA has just called to advise that the purchasers are swapping law firm. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. Why would a major lender only work with specific solicitors rather the firm that they want to appoint for their conveyancing in Wigan ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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 hearing daily from firms 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 sway in the decision.
The vendors of the property we are hoping to buy have appointed a conveyancing solicitor in Wigan who has recommended a exclusivity agreement with a down payment 6,000. Is it wise to enter into such agreements?
Lock out agreements are agreements binding a home owner and purchaser granting the buyer the sole right to purchase the property within an agreed time frame. For all intents and purposes, a lock out agreement is a contract stating that you will have a contract at a later date which is the main conveyancing contract. It tends to be utilised for buyer protection though in many situations, the proprietor may enjoy an upside from such agreements as well. There are various pros and cons to having them but you should to check with your conveyancer but beware that it may result in incurring extra in conveyancing fees. In light of this these contracts are not popular in relation to conveyancing in Wigan.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Wigan. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
Given you intend to refinance then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
Will commercial conveyancing searches reveal proposed roadworks that could affect a commercial land in Wigan?
Many commercial conveyancing solicitors in Wigan will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Wigan. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wigan.
For each commercial conveyancing transaction in Wigan it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Wigan commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Wigan.
The estate agent has sent us the confirmation of our purchase of a new build flat in Wigan. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wigan
-
Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I'm refinancing my current house to a buy to let mortgage with HSBC Bank and intend to use the remaining equity as a down payment on another house. The area we are looking at is Wigan. Will your lawyers be able to act for both sets of mortgage companies and link together the transactions?
Do use our comparison tool on this site to check that the lawyers are approved by both lenders. Having checked that they are the lawyer will be able to tie up the two conveyancing matters but you should talk with you solicitor and communicate your expectations and requirements.