I am five weeks into the sale of my home in New Invention and the EA has just text me to advise that the purchasers are swapping property lawyer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. Why would a major mortgage company only work with certain law firms rather the firm that they want to select to handle their conveyancing in New Invention ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been stiffened 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. 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 not going to have any impact on this.
Are the BSA planning on creating a search tool with a view to to identify solicitors on the Coventry BS conveyancing panel for instance in New Invention?
We have not been informed any intention on the part of the BSA to develop such a search facility.
My wife and I are planning on selling our house in New Invention and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A high street New Invention lawyer would know that there is no such problem. It does beg the question why the purchasers instructed an internet conveyancing firm rather than a conveyancing solicitor in New Invention. Having lived in New Invention for three years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
How can the Landlord & Tenant Act 1954 affect my business property in New Invention and how can you help?
The particular law that you refer to affords a safeguard to business tenants, granting the legal entitlement to apply to court for a new lease and continue in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in New Invention
How much experience do your New Invention conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
New Invention conveyancing lawyers help thousands of buyers move home every year and helped lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique New Invention conveyancers have worked on recent similar matters.