I am nearing exchange of contracts for my flat in Burnham and the EA has just telephoned to warn that the buyers are switching conveyancer. I am told that this is due to the fact that the lender will only work with solicitors on their approved list. On what basis would a major mortgage company only work with specific lawyers rather the firm that they want to appoint for their conveyancing in Burnham ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say 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. Some 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 impact on this.
The Burnham conveyancing lawyers that just started acting on my house acquisition in Burnham have suddenly shut down. I only went with them because I had to have a solicitor on the Kent Reliance conveyancing panel and my family Burnham lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I have justbecome aware that Action Conveyancing have closed. They conducted my conveyancing in Burnham for a purchase of a freehold house 18 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Burnham conveyancing specialists.
How does conveyancing in Burnham differ for new build properties?
Most buyers of new build residence in Burnham come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Burnham typically buy the real estate, 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 Burnham or who has acted in the same development.
As co-executor for the estate of my grandfather I am selling a property in Swansea but reside in Burnham. My solicitor (based 200 kilometers awayneeds me to execute a statutory declaration prior to completion. Can you recommend a conveyancing practitioner in Burnham to attest and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Burnham