I am one month into the sale of my home in Shotton and the EA has just telephoned to warn that the buyers are changing their property lawyer. I am told that this is due to the fact that the lender will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with certain law firms rather the firm that they want to select to handle their conveyancing in Shotton ?
UK lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say 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 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.
Do the conveyancing lawyers via your comparison service perform conveyancing in Shotton by way of an attended exchange?
There are a few conveyancing specialists who can conduct attended exchanges. You should e-mail us to obtain a costs illustration and details as to availability.
How does conveyancing in Shotton differ for newly converted properties?
Most buyers of new build or newly converted property in Shotton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Shotton usually purchase the land, 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 Shotton or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Shotton before appointing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies will refuse to issue a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shotton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shotton to see if the conveyancing will be more expensive.
In what way does the Landlord & Tenant Act 1954 impact my commercial premises in Shotton and how can your lawyers assist?
The particular law that you refer to gives a safeguard to business leaseholders, granting the a statutory right to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Shotton is one of our hundreds of areas of the UK in which our lawyers have offices