I am progressing with the sale of my house in Baschurch and the EA has just text me to advise that the buyers are swapping law firm. The reason given is that the mortgage company will only work with solicitors on their approved list. On what basis would a major lender only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Baschurch ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been stiffened 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 hearing daily from firms 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. Your buyers are not going to have any impact on this.
My bid for a property was accepted at auction in Baschurch. Conveyancing is needed. What happens now?
Now that you have exchanged you must find a conveyancing lawyer quickly as you now have a fast approaching a fixed date to complete the purchase. Every auction property should have a corresponding legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to hand this to the conveyancer working for you ASAP. Do make sure that you have funds organised to complete on the on the contractual date .
We have agreed to purchase a house in Baschurch. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Skipton be concerned?
As you are obtaining a mortgage with Skipton your lawyer must comply with the conveyancing instructions set out in Section two of UK Finance Lenders’ Handbook for Skipton. The CML Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Skipton where a lease fails to meet these requirements. The requirements relate to the installation of panels on properties countrywide and is not isolated to Baschurch.
After weeks of negotiation I have agreed a price on an apartment in Baschurch. My mortgage broker suggested a lawyer. I paid an advanced payment of £150. A couple of days later, the conveyancing practitioner contacted me sheepishly admitting that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Should my solicitor be asking questions about flooding during the conveyancing in Baschurch.
Flooding is a growing risk for solicitors specialising in conveyancing in Baschurch. There are those who purchase a property in Baschurch, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a various searches that may be undertaken by the purchaser or by their lawyers which can figure out the risks in Baschurch. The standard information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to find out if the premises has suffered from flooding. If the property has been flooded in past and is not revealed by the owner, then a purchaser could bring a compensation claim stemming from an inaccurate reply. A buyer’s lawyers may also order an enviro report. This will reveal whether there is any known flood risk. If so, additional inquiries will need to be initiated.
It has been four months since my purchase conveyancing in Baschurch completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am thinking of appointing a conveyancing solicitor in Baschurch for my house move. Can I review a firm’s complaints history with the legal regulator?
Anyone may find published Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after Jan 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator sometimes recorded call for training purposes.