I am selling my flat in Cudham and the estate agent has just e-mailed to advise that the purchasers are appointing a new law firm. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. Why would a leading mortgage company only work with specific solicitors rather the firm that they want to appoint for their conveyancing in Cudham ?
Mortgage companies have always had panels of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 purchasers are unlikely to have any sway in the decision.
I require conveyancing for a flat in a relatively new development (five years built) in Cudham. 95% of the properties are already disposed of. Is it really necessary to order conveyancing searches as part of conveyancing in Cudham?
You are putting yourself at risk in not carrying out Cudham conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that your conveyancer conducts them. Where speed and expenses are primary concerns you should consider with your lawyer about the options such as contingency insurance available to you
Have just purchased a repossessed house at auction in Cudham. Conveyancing is required. What are my next steps?
Given that you are now legally bound yourself to purchase you will need to retain a conveyancing lawyer quickly as you are facing a tight deadline in which to complete the purchase. All auction property will ordinarily have a bespoke auction pack. This will include most,if not all of the paperwork that your solicitor will need. In the case of leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You need to give this to the conveyancer working for you at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete on the date specified in the contract.
Is it the case that all Cudham CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing list of approved solicitors?
A selection of banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
I have today made my last payment due on my mortgage with Skipton. I assume I don't need a Cudham solicitor on the Skipton panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton 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 Skipton mortgage from the register. Skipton, 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 Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
Will my lawyer be raising questions about flooding as part of the conveyancing in Cudham.
Flooding is a growing risk for solicitors conducting conveyancing in Cudham. There are those who acquire a house in Cudham, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a various searches that may be undertaken by the purchaser or by their conveyancers which will figure out the risks in Cudham. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to determine if the property has suffered from flooding. In the event that the premises has been flooded in past which is not notified by the vendor, then a purchaser could commence a compensation claim stemming from an incorrect reply. The purchaser’s solicitors will also conduct an environmental search. This should higlight whether there is a recorded flood risk. If so, more detailed inquiries should be made.
What tools are available to locate a Cudham solicitor on the Nottingham Building Society conveyancing panel? I am a keen cyclist and am willing to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the facility on this page. Please select a mortgage company and your location and you will see a number of Cudham conveyancing lawyers based on proximity. We have listed some Cudham conveyancing firms towards the end of this page and you can ring them to see whether they are on the Nottingham Building Society approved list