I am one month into the sale of my apartment in Erdington and the estate agent has just called to warn that the purchasers are changing their conveyancer. The excuse is that the lender will only deal with solicitors on their approved list. Why would a major mortgage company only engage with certain law firms rather the firm that they want to select for their conveyancing in Erdington ?
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 Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Mortgage companies justify this action to 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. Banks tend not to disclose 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 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. Your purchasers are unlikely to have any sway in the decision.
Please could you vouch for a Skipton Building Society allowed Erdington conveyancing conveyancer who can have us moved in within under 3 weeks? Would it be better to use a local Erdington practice or a national comparison site?
We can recommend some very good Erdington conveyancing firms. Another option is to visit the main road in Erdington. Go in to two or three firms and ask to see a conveyancing solicitor for a quote. Explain your time frames together with the reasons and ask for a commitment on your deadline. Select the one that appears most efficient.
Are the BSA planning on creating a online directory to list law firms on the Melton Mowbray Building Society conveyancing panel for instance in Erdington?
We are not aware of any plans on the part of the BSA to develop such a register.
Just had an offer accepted on a new build flat in Erdington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Erdington
Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
When it comes to my conveyancing in Erdington should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Erdington conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.