I am progressing with the sale of my flat in Wirral and the estate agent has just called to say that the purchasers are changing their solicitor. The excuse is that the lender will only deal with property lawyers 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 Wirral ?
UK lenders have always had panels of law firms they are content to work with, but in the past few 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 15 years.
Banks blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal 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 unlikely to have any impact on this.
Should my conveyancer be raising enquiries regarding flooding as part of the conveyancing in Wirral.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Wirral. Some people will purchase a property in Wirral, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a various checks that may be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Wirral. The standard information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to discover if the premises has ever been flooded. In the event that the premises has been flooded in past and is not disclosed by the owner, then a buyer could commence a claim for damages resulting from an incorrect answer. The purchaser’s solicitors will also order an enviro report. This should reveal whether there is a recorded flood risk. If so, additional inquiries will need to be initiated.
I have justfound out that Arc property Solicitors have closed. They conducted my conveyancing in Wirral for a purchase of a leasehold apartment 18 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The quickest way to see if the property is in your name, you can make 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 Wirral conveyancing specialists.
How does conveyancing in Wirral differ for new build properties?
Most buyers of new build premises in Wirral approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Wirral typically purchase 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 property lawyers 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 Wirral or who has acted in the same development.
I am purchasing a house mortgage free. My conveyancer has been supplied with with 2 separate evidence of photographic identification, bank statement, numerous utility bills. Now he needs a copy from a probate lawyer stating that the funds are in place and that it has come from inheritance and not selling fake watches.
In today’s world you will not be able to complete any Wirral conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Evidence of your source of funds is required under Money Laundering laws.