I am in the process of selling my maisonette in Miskin and the estate agent has just e-mailed to say that the purchasers are appointing a new property lawyer. The excuse is that the lender will only engage with property lawyers on their approved list. Why would a major lender only engage with certain solicitors rather the firm that they want to select for their conveyancing in Miskin ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Banks blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal 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 buyers are unlikely to have any sway in the decision.
Can you explain why leasehold purchase conveyancing in Miskin is more expensive?
Miskin leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am planning to move house in October. Will my conveyancing solicitor communicate with the removal company on the completion day. As an aside, can you put forward a removal company in Miskin. Conveyancing lawyer was organised before I stumbled across your page.
On the day of completion you can collect the house keys from the selling agent however this can only occur when the sellers solicitors confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. Subsequently you will need to advise the removal men that you are ready to move in. We do not suggest a particular removal company but can help you choose a residential property solicitor in Miskin or a legal practice with expertise in conveyancing in Miskin.
My husband and I have arranged the release of further funds on our home loan from Co-operative as we intend to conduct improvements to our home in Miskin. Do we need to choose a high street Miskin solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative don't usually appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative conveyancing panel.
It is unclear whether my bank requires a lease extension. I have called my Miskin building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Miskin conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend based on their published requirements. Who do I believe?
As long as the conveyancing practitioner is on the mortgage company panel, she or he must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
We're novice buyers - agreed a price, but the estate agent informed us that the seller will only issue a contract if we instruct their chosen solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer who is familiar with conveyancing in Miskin
We suspect that the owner is unaware of this demand. If they require ‘a quick sale', alienating a motivated purchaser is counter productive. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you intend to use your preferred Miskin conveyancing lawyers - rather thanthose that will earn their negotiator at the agency a kickback or hit his conveyancing targets set by corporate headquarters.
I'm selling a flat in Miskin. I have found my conveyancer's company on the Law Society's list, but I can't see my conveyancer's name as listed on the regulator's website. Is this a big problem?
Not every individual in the law firm must be listed by the regulator. Provided there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unqualified staff.