I am in the process of selling my maisonette in Mottingham and the EA has just called to warn that the purchasers are switching conveyancer. The excuse is that the lender will only work with solicitors on their approved list. Why would a major mortgage company only work with specific law firms rather the firm that they want to select for their conveyancing in Mottingham ?
Mortgage companies have always had panels of law firms they are willing 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 acted for them for decades.
Banks justify this action to a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to oversee. 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 are unaware that 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 sway in the decision.
I have given 8 weeks notice to my existing landlord and have to be out of my let out apartment in Mottingham by 9/4/2019. Conveyancing for my house purchase is underway. How realistic is it to complete in 5 weeks as don't want to have to find short term accommodation?
Generally one should not provide notice on a rental unless exchange of contracts has taken place. Assuming that you have not previously done so, notify to your lawyer and ask them to they seek the assistance the owners solicitors, try to an acceptable time-line that everyone will work to achieve
We're in Mottingham, First timers purchasing with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We are buying a victorian detached house in Mottingham. Our aim is to convert the garage to an office at the property.Will the conveyancing process include enquiries to determine if these alterations are allowed?
Your solicitor will review the deeds as conveyancing in Mottingham will sometimes identify restrictions in the title documents which restrict certain changes or require the consent of another owner. Certain works call for local authority planning consent and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
When it comes to lenders such as Aldermore, do Mottingham conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have today made my last payment due on my mortgage with Barclays. I assume I don't need a Mottingham conveyancing practitioner on the Barclays panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I have been told that property searches are a common reason for hinderance in Mottingham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Mottingham.