Find a Colyton Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Colyton? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Colyton home move at risk of delay or failure.

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Recently asked questions about conveyancing in Colyton

I am in the process of selling my apartment in Colyton and the estate agent has just called to say that the buyers are swapping solicitor. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. Why would a major mortgage company only engage with certain lawyers rather the firm that they want to appoint for their conveyancing in Colyton ?

Mortgage companies have always had panels of law firms they are willing 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 more than 15 years.

Mortgage companies point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. 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 buyers are not going to have any sway in the decision.

As someone with no idea as to conveyancing in Colyton what is the number one tip you can impart concerning the legal transfer of property in Colyton

Not many law firms shout this from the rooftops but conveyancing in Colyton and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is plenty of room for friction between you and others involved in the ownership transfer. For example, the seller, property agent and on occasion the lender. Choosing a law firm for your conveyancing in Colyton should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the transaction whose interest is to look after your best interests and to keep you safe.

On occasion a potential adversary may attempt to convince you that you should follow their advice. For instance, the selling agent may claim to be assisting by claiming that your lawyer is wrong. Or your financial adviser may tell you to do something that is against your lawyers guidance. You should always trust your lawyer above all other parties in the conveyancing process.

I bought my home on 16 June and the transaction details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Colyton said it should be concluded in a couple of weeks. Are properties in Colyton particularly slow to register?

There is nothing unique about conveyancing in Colyton registration formalities. As opposed to being determined by geographic area, timeframes can vary depending on the party submitting the application, whether there are errors and whether the Land registry must send notices to any interested parties. As of today in the region of three quarters of such applications are completed within two weeks but some can be subject to longer hold-ups. Registration occurs once the new owner has moved in to the premises thus registration formalities is not always primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.

Due to the input of my in-laws I had a survey completed on a property in Colyton prior to instructing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies tend refuse to give a mortgage on such a premises.

It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Colyton. Conveyancing may be slightly more expensive based on your lender's requirements.

My husband and I are first time buyers - agreed a price, but the agent informed us that the vendor will only go ahead if we appoint the agent's recommended lawyers as they are insisting on a ‘quick sale’. We would rather use a high street conveyancer accustomed to conveyancing in Colyton

It is improbable the sellers are behind this. Should the vendor require ‘a quick sale', turning down a serious purchaser is counter productive. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Colyton conveyancing solicitors - not the ones that will earn the negotiator at the agency a commission or hit his conveyancing thresholds pre-set by HQ.

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Find out more about how flying freehold can affect your the value of a property.