I am nearing exchange of contracts for my maisonette in Marple and the EA has just telephoned to warn that the buyers are switching conveyancer. I am told that this is due to the fact that the lender will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only deal with certain lawyers rather the firm that they want to choose to handle their conveyancing in Marple ?
UK lenders have always had an approved set of law firms that can represent them, 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 acted for them for decades.
Lenders justify this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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 not going to have any impact on this.
Can your site be used to locate a Conveyancing solicitor in Marple even where I’m not purchasing or selling a house, for instance if I want to acquire an office in Marple with a mortgage from Santander?
The service is predominantly there to find domestic conveyancing solicitors in Marple but we have listed towards the bottom of this page some Marple commercial conveyancing firms. You will need to speak with the solicitors directly to check if they are also authorised to represent Santander
My aunt passed away last year and as sole heir and executor I was left the property in Marple. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
If you plan to refinance then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
It has been five months following my purchase conveyancing in Marple took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 asset 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.
What is the difference between surveying and conveyancing in Marple?
Conveyancing - in Marple or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you find out about the condition of the building and, if there are problems, give you a powerful reason for negotiating the buying price down or asking the vendor to fix the defects before you move in.