I am progressing with the sale of my flat in Alcester and the estate agent has just telephoned to say that the purchasers are swapping law firm. The excuse is that the bank will only work with solicitors on their approved list. Why would a leading mortgage company only engage with specific lawyers rather the firm that they want to choose for their conveyancing in Alcester ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 purchasers are unlikely to have any impact on this.
Finally the sale completed on my house in Alcester last November but the buyer keeps whats apping daily complaining that her lawyer needs to hear from myconveyancer. What are the post completion sale formalities following completion?
Post completion of your disposal your lawyer is duty bound to send the transfer deeds and all additional paperwork to the buyer’s solicitors. If applicable, your conveyancer should also evidence that the home loan has been discharged to the buyers solicitors. There is unlikely to be post completion formalities just for conveyancing in Alcester.
Do the Building Society Association intend to launch a searchable register to to identify law firms on the Melton Mowbray Building Society conveyancing panel for instance in Alcester?
We are not aware of any plans on the part of the BSA to develop such a tool.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial estate in Alcester?
Its becoming the norm that commercial conveyancing solicitors in Alcester will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Alcester. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Alcester.
For every commercial conveyancing transaction in Alcester it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could cause delays to Alcester commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Alcester.
I have been on the look out for a flat up to £305k and identified one near me in Alcester I like with amenity areas and station in the vicinity, the downside is that it only has 61 years on the lease. I can't really find anything else in Alcester for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
How difficult is it to transfer to a new firm as I need to find a firm on the National Westminster Bank conveyancing panel. I was using a family conveyancing solicitor in Alcester five minutes from me but she is not accepted by National Westminster Bank
It would be our pleasure to help you select a conveyancing solicitor in Alcester on the National Westminster Bank panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Alcester. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Alcester.