We note that you have a search directory listing law firms on the Nationwide conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Frome?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Frome.
4 months have elapsed since my purchase conveyancing in Frome concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Frome is the location of the property. Can you shed any light on this issue?
Flying freeholds in Frome are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Frome you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Frome may decide 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 residence.
I have been pointed in your direction by a number of estate agents in Frome to choose a property lawyer using your seach tool. What’s the financial upside for Estate Agents to recommend your services rather than another?
We refuse to make any commission for directing people to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My son is just in the process of moving house, the home loan was agreed last week in principle. One the offer was accepted on house we called the mortgage company to progress the mortgage application. We were shocked to discover that mortgage lenders do not accept all lawyer, they must be on their panel, is this correct?
Lenders ordinarily imposes restrictions either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Frome conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.