I am one month into the sale of my home in Woodside and the estate agent has just text me to advise that the purchasers are swapping conveyancer. The excuse is that the lender will only deal with solicitors on their approved list. On what basis would a major lender only work with certain lawyers rather the firm that they want to select to handle their conveyancing in Woodside ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 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. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 unlikely to have any sway in the decision.
Why do I have to pay up front for my conveyancing in Woodside?
Where you are retaining lawyers for conveyancing in Woodside your solicitor will ask you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the total price then this will be required shortly in advance of exchange of contracts. Any further balance that is needed should be transferred a few days prior to the day of completion.
My Solicitor in Woodside has never been on on the Accord Mortgages Ltd Solicitor Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are excluded from the Accord Mortgages Ltd panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Woodside lawyers but Accord Mortgages Ltd will need to use a lawyer on their panel. This will result in additional overall conveyancing fees and cause delays.
- Choose a new practitioner to to deal with the conveyancing, obviously checking they are Accord Mortgages Ltd approved.
- Try to convince your Accord Mortgages Ltd solicitor to try to join the Accord Mortgages Ltd panel
Just had an offer accepted on a new build apartment in Woodside. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Woodside
Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the advice of my in-laws I had a survey completed on a house in Woodside in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some lenders will refuse to give a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you 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 accustomed to dealing with flying freeholds in Woodside. Conveyancing will be smoother if you use a solicitor in Woodside especially if they are accustomed to such properties in Woodside.
I note that you have a post code search directory identifying law firms on the mortgage company conveyancing panel. Do Woodside conveyancing companies pay you a referral fee if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Woodside.