I am selling my maisonette in Wimborne and the EA has just telephoned to advise that the buyers are changing their solicitor. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. Why would a big named mortgage company only engage with certain lawyers rather the firm that they want to choose for their conveyancing in Wimborne ?
UK lenders have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies blame a rise in fraud as the reason for the cull – criteria have been stiffened 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 being contacted daily by practices 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. The purchasers are not going to have any impact on this.
My wife and I are close to exchanging contracts on the sale of our property in Wimborne and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Wimborne lawyer would know this is not the case. For the life of me I don't know why the purchasers used an online conveyancing firm rather than a conveyancing solicitor in Wimborne. We have lived in Wimborne for three years we know that this is a non issue. Is it a good idea to contact our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Just acquired a semi-detached house in Wimborne , how long should it take for the Land Registry to record my ownership? My Wimborne conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is registered.
There is nothing unique about conveyancing in Wimborne registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether there are errors and whether the Land registry communicate with any 3rd parties. As of today approximately 80% of such applications are fully addressed within two weeks but some can be subject to longer hold-ups. Registration is effected once the buyer has moved in to the property therefore an expedited registration is not typically top priority but where there is a degree of urgency associated with the registration then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Wimborne differ for new build properties?
Most buyers of new build residence in Wimborne contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Wimborne tend to purchase 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 conveyancers 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 Wimborne or who has acted in the same development.
Hoping to buy a property located in Wimborne and I am already nervous. I couldn't find anything specific about Wimborne. Conveyancing will be needed in due course but do you know about the Wimborne area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Wimborne. In the meantime here are some basic statistics that we found
What are the common problems that you encounter in leases for Wimborne properties?
Leasehold conveyancing in Wimborne is not unique. Most leases are unique and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.
Wimborne Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
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How much is the annual maintenance fee and ground rent? Be sure to investigate if there are any onerous restrictions in the lease. For example some leases prohibit pets being allowed in certain buildings in Wimborne. If you love the propertyin Wimborne yet your dog can’t make the move with you then you will be presented with a difficult compromise. Who takes responsibility for maintaining and repairing the building?