I am in the process of selling my apartment in Aintree and the estate agent has just telephoned to warn that the purchasers are switching law firm. The excuse is that the lender will only deal with solicitors on their conveyancing panel. On what basis would a big named mortgage company only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in Aintree ?
Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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. Plenty of firms 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. The purchasers are unlikely to have any sway in the decision.
My wife and I intend to remortgage our apartment in Aintree with RBS. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the RBS conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your RBS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to RBS. This is solely used to protect RBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of RBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My uncle informed me that in purchasing a property in Aintree there may be a number of restrictions affecting the ability to carry out external changes to a property. Is this right?
There are a number of properties in Aintree which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Aintree should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am aiming to move house in December. Should my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Aintree. Conveyancing lawyer was found prior to coming across your page.
On the day of completion you will need to collect the house keys from your property agent however this can only happen once the sellers solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be given over. You should tell the removal men that you are ready to move in. We are not in a position to suggest a specific removal organisation but can help you locate a residential property solicitor in Aintree or a solicitor that specialises in conveyancing in Aintree.
Can you help - my lawyer says that lack of right of way insurance is needed on my purchase. What is the level of cover for Aintree conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Aintree I like with open areas and railway links nearby, however it's only got 51 years unexpired on the lease. There is not much else in Aintree suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am selling my property. My former solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Aintree if that makes a difference.
Please use our search tool to help you find a solicitor for your conveyancing in Aintree. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
Our lenders have just issued us with a mortgage offer. We have retained a reputable conveyancer in Aintree yesterday. Today, our financial adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the mortgage company had some control over our choice Is this permitted?
You are at liberty to use any conveyancing solicitor you wish to use including the said conveyancer in Aintree nevertheless if they are not on the your bank's approved list you must pay an extra fee so the bank can appoint their own lawyers. It may be possible your solicitor may apply to get included on to the bank list of approved firms. Do make the most of web-based tools including lenderpanel.com to find a conveyancing solcitor in Aintree on the mortgage company panel. You can go into your high street mortgage company branch in Aintree. They can recommend conveyancing solicitors in Aintree on the mortgage company panel.