I am nearing exchange of contracts for my flat in Burnham On Crouch and the estate agent has just telephoned to advise that the purchasers are changing their solicitor. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. Why would a big named lender only work with certain lawyers rather the firm that they want to choose to handle their conveyancing in Burnham On Crouch ?
Banks have always had an approved set of law firms that can act for them, 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 by way of justification for the cull – 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 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. The purchasers are unlikely to have any sway in the decision.
I sincerely hope you can assist me. My Burnham On Crouch lawyer is assuring me that he has toorder Burnham On Crouch conveyancing searches becausethe firm are on the Nat Westconveyancing panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Burnham On Crouch conveyancing searches.
I am assisting my mother sell her property in Burnham On Crouch. Will the solicitor arrange an energy assessment or it is for the seller to see to?
Following the demise of HIPs, energy assessments remained a compulsory part of moving property. An energy performance certificate must be commissioned before the property is marketed. It is not a task that lawyers ordinarily organise. If you are using a Burnham On Crouch conveyancing solicitor they may be able to arrange energy assessments due to their relationships with reputable local assessors
Is it the case that all Burnham On Crouch solicitors on the Co-operative conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Co-operative conveyancing panel they would need to be overseen by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Burnham On Crouch lawyer on the Nationwide panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
How does conveyancing in Burnham On Crouch differ for newly converted properties?
Most buyers of new build residence in Burnham On Crouch contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Burnham On Crouch usually purchase the land, 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 property lawyers 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 On Crouch or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Burnham On Crouch is where the house is located. Can you offer any assistance?
Flying freeholds in Burnham On Crouch are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Burnham On Crouch you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burnham On Crouch may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.