I am progressing with the sale of my maisonette in Northwich and the EA has just text me to advise that the buyers are swapping conveyancer. I am told that this is due to the fact that the bank will only deal with property lawyers on their approved list. On what basis would a major mortgage company only deal with certain lawyers rather the firm that they want to appoint for their conveyancing in Northwich ?
Mortgage companies have always had panels of law firms that can represent them, 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 represented them for more than 25 years.
Lenders attribute this action to a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to monitor. 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. Plenty of firms 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 purchasers are unlikely to have any impact on this.
I'm in the process of viewing apartments in Northwich and I am about to put in an offer. Should I already have a conveyancer in place at this point? I will be getting a mortgage with RBS.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are getting a mortgage with RBS, make sure you remember to check that your lawyer is on the RBS conveyancing panel.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Northwich property lawyer on the TSB panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Northwich is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I bought my house on 2 June and the transaction details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Northwich said it will be concluded in a couple of weeks. Are transfers in Northwich uniquely lengthy to register?
As far as conveyancing in Northwich is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary according to who lodges the application, whether it is in order and if the Land registry communicate with any interested parties. At present approximately 80% of submission are completed in less than three weeks but some can be subject to protracted delays. Registration is effected once the new owner is living at the premises therefore post completion formalities is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers must contact the land registry and explain the circumstances.
I am looking into buying my first house which is in Northwich and I am already nervous. I couldn't find anything specific about Northwich. Conveyancing will be needed in due course but do you know about the Northwich area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Northwich. In the meantime here are some basic statistics that we found
My step-father has recommend that I appoint his conveyancing solicitors in Northwich. Should I find my own property lawyer?
No doubt the ideal way to find a conveyancing solicitor is to have guidance from friends or relatives who have used the conveyancer that you are considering.