I am progressing with the sale of my ground floor flat in Westcliff On Sea and the estate agent has just called to advise that the buyers are swapping conveyancer. The excuse is that the lender will only work with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only engage with certain lawyers rather the firm that they want to select for their conveyancing in Westcliff On Sea ?
Lenders have always had panels of law firms that can represent them, but in the last 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.
Banks point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to monitor. 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 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 buyers are unlikely to have any sway in the decision.
I have 70 years left on my lease and require a lease extension for my flat in Westcliff On Sea. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 29/11/2024 the requirements read as follows :
I have recentlybecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in Westcliff On Sea for a purchase of a leasehold flat 18 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The easiest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Westcliff On Sea conveyancing specialists.
How does conveyancing in Westcliff On Sea differ for newly converted properties?
Most buyers of new build residence in Westcliff On Sea come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Westcliff On Sea typically 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 conveyancing solicitors 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 Westcliff On Sea or who has acted in the same development.
Hoping to buy a property located in Westcliff On Sea and I am already nervous. I couldn't find anything specific about Westcliff On Sea. Conveyancing will be needed in due course but do you know about the Westcliff On Sea area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Westcliff On Sea. In the meantime here are some basic statistics that we found