I am nearing exchange of contracts for my home in Sleaford and the estate agent has just text me to say that the purchasers are changing their property lawyer. The reason given is that the bank will only work with solicitors on their approved list. Why would a leading mortgage company only work with certain lawyers rather the firm that they want to choose for their conveyancing in Sleaford ?
UK lenders have always had panels of law firms they are willing 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 represented them for more than 25 years.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. 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. 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.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Sleaford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Sleaford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sleaford you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sleaford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is there anything unique about your site and other internet conveyancing solicitors for conveyancing in Sleaford?
At this site get a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Sleaford. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you select them for your conveyancing in Sleaford
We're novice buyers - agreed a price, yet the property agent told us that the vendor will only go ahead if we use the agent's preferred conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in Sleaford
It is unlikely the vendors are behind this. Should the seller desire ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Try to communicate with the owners directly and make sure they understand (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Sleaford conveyancing lawyers - rather thanthose that will provide the negotiator at the agency a commission or meet his conveyancing thresholds pre-set by HQ.
On the hunt for a conveyancing solicitor in Sleaford. I did have one sorted but he's not on the panel for Santander. It would appear that nowadays most building societies only allow conveyancing practitioners on their panel. Very annoying limiting the choice for the paying public. Is it possible for you to recommend a cheap Sleaford conveyancing practitioner that can assist us as well as represent Santander?
LenderPanel.com is limited to being a directory service for lawyers who want to be listed as being on the approved conveyancing panel for Santander in certain areas for example Sleaford . We dont recommend any specific conveyancer.