I am six weeks into the sale of my maisonette in Halewood and the estate agent has just called to warn that the purchasers are appointing a new solicitor. The reason given is that the lender will only work with solicitors on their approved list. Why would a leading mortgage company only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Halewood ?
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 Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose 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. 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.
The deeds to our home are lost. The lawyers who conducted the conveyancing in Halewood 5 years ago have long since closed. What do I do?
These day there are copies made of almost everything, and your conveyancer should be aware exactly where to locate all the suitable documentation so you may buy or sell your house without a hitch. If copies are not available, your conveyancer can put in place insurance or indemnities against possible claims on the property.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Halewood is the location of the property. Can you offer any opinion?
Flying freeholds in Halewood are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Halewood you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Halewood 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 property.
I am using a search engine for the term on line conveyancing in Halewood it brings up many solicitorslocally. With so much choice what is the best way to find the right property lawyer for me?
The ideal way of choosing the right conveyancer is via personal testimonial, so ask friends and relatives who have bought a property in Halewood or a respected estate agent or mortgage broker. Charges for conveyancing in Halewood differ, so it's sensible to obtain a minimum of four fee calculations from varying types of solicitors. Dont forget to clarify what costs in the quote includes.
My conveyancing in Halewood is completing this Friday, however the person I am purchasing off wishes to move out on the Saturday noon. Do I agree to this?
If you are having a bank loan then your property lawyer will require that you have vacant possession on Friday - the lender will compel it.