I am in the process of selling my flat in Ringmer and the estate agent has just telephoned to advise that the purchasers are changing their solicitor. The reason given is that the bank will only deal with solicitors on their conveyancing panel. Why would a big named mortgage company only engage with specific solicitors rather the firm that they want to select to handle their conveyancing in Ringmer ?
Banks have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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.
My wife and I purchased a renovated Edwardian house in Ringmer. Conveyancing lawyer acted for me and Barclays . I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be 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 Ringmer and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing lawyer who completed the work.
How does conveyancing in Ringmer differ for new build properties?
Most buyers of new build residence in Ringmer approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Ringmer typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ringmer or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Ringmer I like with a park and transport links in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Ringmer in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I am looking for a conveyancing solicitor in Ringmer for my purchase. Is there any facility to review a solicitor's complaints history with the profession’s regulator?
Members of the public can read presented Solicitor Regulator Association (SRA) decisions arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator may recorded telephone calls for training purposes.