I am one month into the sale of my ground floor flat in Winslow and the estate agent has just called to warn that the buyers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. Why would a leading mortgage company only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Winslow ?
Mortgage companies have always had panels of law firms they are willing to work with, 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 represented them for many years.
Lending institutions justify this action to a rise in fraud as the reason for the reduction – criteria have been tightened 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 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. The purchasers are not going to have any impact on this.
There is lots of information on this site regarding conveyancing in Winslow but what is your top tip for choosing the right conveyancer in Winslow
It would be unwise to be swayed by the lowest Winslow conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I'm the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Winslow. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the property in June. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. many banks would take a practical view as this provision is chiefly there to identify subsales or the quick reselling of properties.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Winslow solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Winslow surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
The deeds to my home are lost. The solicitors who did the conveyancing in Winslow 5 years ago have long since closed. What are my next steps?
Gone are the days when you need to hold title official documentation to establish that you are the registered proprietor of land or property, as the Land Registry hold details of all registered land or property electronically.
Just had an offer accepted on a new build apartment in Winslow. Conveyancing is daunting 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 should expect your new-build leasehold conveyancing in Winslow
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan.
How do I identify a Winslow law firm on the Britannia conveyancing panel? I have wheels and am willing to travel upto 10kilometers to meet the conveyancer.
You can use the tool on this website. Please choose the mortgage company and your location and you will see a number of Winslow conveyancing lawyers based on proximity. We have listed some Winslow conveyancing firms at the bottom of this page and you can ring them to see whether they are on the Britannia panel
We're FTB’s - had an offer accepted, but the selling agent advised that the owners will only issue a contract if we appoint their recommended conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer accustomed to conveyancing in Winslow
It is highly unlikely the owners are driving this. Should the owner desire ‘a quick sale', turning down a motivated purchaser is counter productive. Avoid the agents and go straight to the sellers and make the point that (a)you are genuine purchasers (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to use your own,trusted Winslow conveyancing lawyers - not the ones that will earn the estate agent a kickback or achieve conveyancing targets set by corporate headquarters.