I am nearing exchange of contracts for my flat in Breaston and the EA has just e-mailed to say that the buyers are changing their law firm. The excuse is that the lender will only engage with property lawyers on their approved list. On what basis would a major mortgage company only deal with specific law firms rather the firm that they want to select for their conveyancing in Breaston ?
Lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. 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. 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.
Finally the sale completed on my house in Breaston last December yet the purchaser is telephoning me to moan that her lawyer needs to hear from mylawyer. What should my lawyer have done following completion?
Post completion of your house sale your lawyer should deliver the transfer deeds and all additional paperwork to the buyer’s conveyancer. If applicable, your conveyancer must also evidence that the mortgage has been repaid to the buyers solicitors. There is unlikely to be post completion requirements specific conveyancing in Breaston.
Do I have to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Breaston so that I can attend their offices if necessary.
These days approved lawyers for mortgage companies undertake all of the work via the post, internet or over phone calls. This enables them to carry out the legal work for your home move no matter where you live in England or Wales. That being said you should check if you can still book an appointment to visit conveyancing lawyer if needed.
Due to the encouragement of my in-laws I had a survey completed on a house in Breaston before instructing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies may refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Breaston. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are novice buyers - agreed a price, but the agent advised that the owners will only move forward if we instruct the agent's preferred conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Breaston
It is highly unlikely the vendors are driving this. If they desire ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Speak to the owners direct and explain that (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you are going to appoint your own,trusted Breaston conveyancing lawyers - not the ones that will earn their negotiator at the agency a referral fee or hit his conveyancing targets set by head office.