I am progressing with the sale of my flat in Edge Hill and the estate agent has just called to advise that the purchasers are switching law firm. The excuse is that the mortgage company will only work with property lawyers on their approved list. Why would a big named mortgage company only deal with certain solicitors rather the firm that they want to choose to handle their conveyancing in Edge Hill ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been tightened 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 says it is being contacted daily by practices that have been removed from panels. Some do not even realise 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.
My nephew is purchasing a newly built flat in Edge Hill with a mortgage from . His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Having sold my house in Edge Hill last May yet the purchaser is telephoning every few hours complaining that her solicitor needs to hear from mylawyer. What are the post completion sale formalities now that I have sold?
Post completion of your house sale your conveyancer should deliver the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. If applicable, your solicitor should also evidence that the home loan has been redeemed to the buyers lawyers. There is unlikely to be post completion procedures just for conveyancing in Edge Hill.
Are there restrictive covenants that are commonly identified as part of conveyancing in Edge Hill?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Edge Hill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What advice do you have for searching for auction conveyancing in Edge Hill?
First ask the people you trust who they used in the past and if they were happy with the service. Option 2 is to search the internet for conveyancing in Edge Hill. Telephone a couple or more firms from the list and request that they email you their conveyancing estimate and discuss your needs with the solicitor who will handle your conveyancing before you make your decision. Third is to use this site to help you find the right lawyers taking into account your unique requirements including location,speed, complexity and who your intended lender is.Resist the temptation to appoint £99 conveyancing solicitors in Edge Hill