I am one month into the sale of my house in North Newbald and the estate agent has just called to advise that the purchasers are changing their solicitor. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a leading mortgage company only deal with specific lawyers rather the firm that they want to choose to handle their conveyancing in North Newbald ?
UK lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lending institutions blame a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. 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 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 buyers are not going to have any sway in the decision.
Is there a search tool that I can use to discover of the solicitor conducting my conveyancing in North Newbald is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Yorkshire Building Society thus paying £192.00 in supplemental legal costs.
Feel free to make the most of the search tool on this web page. Please choose the lender and type ‘North Newbald’ or your location and you will be presented with numerous conveyancers located in North Newbald or near you.
I purchased a semi-detached Edwardian property in North Newbald. Conveyancing practitioner acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in North Newbald and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing solicitor who conducted the conveyancing.
The estate agent has sent us the confirmation of our purchase of a new build flat in North Newbald. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in North Newbald
Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
My husband and I are 18 days into a freehold purchase having been recommend to solicitors by the local agent to carry out the conveyancing in North Newbald. We are not happy. Could you help me find new solicitors?
A solicitor would have to be very poor in order to consider changing them. Has your mortgage offer been issued? If so you will need to make them aware of the new contact details and get the offer are issued to the new lawyers. Your new conveyancer should be on the lenders panel to avoid added charges and delays. So that should be your first question of the new conveyancers. The search tool should assist you in finding a lender approved conveyancer for your conveyancing in North Newbald