I am 3 weeks into the sale of my apartment in Milton Keynes and the estate agent has just called to say that the purchasers are changing their solicitor. The excuse is that the bank will only engage with solicitors on their approved list. Why would a big named mortgage company only engage with specific law firms rather the firm that they want to choose to handle their conveyancing in Milton Keynes ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions justify this action to a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 buyers are not going to have any sway in the decision.
Can you suggest a Virgin Money allowed Milton Keynes conveyancing solicitor finish our house move within a very limited time frame? Am I best advised to choose a high street Milton Keynes solicitor or a national firm?
We would be happy to suggest some excellent Milton Keynes conveyancing firms. You can also walk up the high street in Milton Keynes. Go in to some well established law practices and ask to see a conveyancing solicitor for a fee estimate. Explain your requirements together with the reasons and get an assurance on speed. Appoint the lawyer that you are most comfortable with.
Have just purchased a probate house at auction in Milton Keynes. Conveyancing is needed. What happens now?
Given that you have now legally committed yourself to purchase you will need to choose a conveyancing practitioner soon as you are facing a pending a drop dead date to complete the conveyancing. All auction property will have a corresponding legal set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the conveyancing papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You should pass this on to your appointed conveyancing solicitor ASAP. You also need to ensure that your finances are organised to complete on the date specified in the contract.
When it comes to mortgage companies such as Skipton, do Milton Keynes lawyers incur a fee to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Is it the case that all Milton Keynes solicitor firms on the Virgin Money conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Virgin Money conveyancing panel they would need to be overseen by the SRA. Some banks do list licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Milton Keynes is where the house is located. What do you suggest?
Flying freeholds in Milton Keynes are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Milton Keynes 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 Milton Keynes 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 premises.
Should one remove a departed person's details from the title register for a house in Milton Keynes?
If a Milton Keynes property is jointly owned and one of the owners dies, the name will not immediately be removed from the Land Registry title. It is not necessary to remove their name as when it comes to a disposal you would simply be asked to evidence as to the reason the joint proprietor is not included in the transfer, normally this takes the form of a grant of probate.
With the aim of making things simpler in the future you can arrange to have the deceased person removed from the title entries by submitting an application to HMLR with evidence of the death. There is no fee from the Registry for this service.