I am one month into the sale of my home in Netherne and the estate agent has just called to warn that the buyers are swapping property lawyer. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. On what basis would a big named lender only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Netherne ?
Mortgage companies have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders blame 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 disclose 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. 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. Your buyers are unlikely to have any impact on this.
My Solicitor in Netherne has never been on on the TSB Approved Panel. Is it possible for me to use my family solicitor notwithstanding that they are not on the TSB list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your preferred Netherne solicitors but TSB will need to retain a conveyancer on their panel. This will result in additional overall legal charges and result in delays.
- Choose a new solicitor to to deal with the purchase, remembering to check they are TSB approved.
- Persuade your TSB solicitor to try to join the TSB panel
I opted to have a survey completed on a property in Netherne prior to appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some banks tend refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Netherne. Conveyancing will be smoother if you use a solicitor in Netherne especially if they are acquainted with such properties in Netherne.
What does commercial conveyancing in Netherne cover?
Netherne conveyancing for business premises covers a broad array of services, supplied by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I need to find a conveyancing solicitor for some conveyancing in Netherne. I have chance upon a web site which looks to be the perfect answer If there is a chance to get all formalities done via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?