I am progressing with the sale of my flat in Alrewas and the EA has just telephoned to warn that the buyers are changing their conveyancer. The excuse is that the mortgage company will only work with property lawyers on their approved list. On what basis would a major lender only work with specific lawyers rather the firm that they want to appoint for their conveyancing in Alrewas ?
Lenders have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders blame a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 sway in the decision.
Finally the sale completed on my house in Alrewas last March but the buyer keeps calling me to moan that his solicitor needs to hear from mine. What are the post completion sale formalities following completion?
After completion of your sale your conveyancer is committed to forward the transfer documentation and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your conveyancer must also send confirmation that the home loan has been repaid to the buyers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Alrewas.
Do I have to visit the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Alrewas so that I can pop in to their offices when needed.
Nowadays conveyancing panel lawyers for mortgage companies undertake all of the communications through the post, e-mail or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. Nevertheless you can check if you have the option of going to the offices of your conveyancing lawyer if you prefer.
A relative advised me that in purchasing a property in Alrewas there may be a number of restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Alrewas which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Alrewas should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to exchange contracts on my house. I had a double glazing fitted in November 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being difficult. The Alrewas solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After shopping around on the internet I have found a Alrewas solicitor having checked that they are on the RBS conveyancing panel. Does my lawyer arrange the survey of the property?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Alrewas postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Alrewas.
How does conveyancing in Alrewas differ for newly converted properties?
Most buyers of new build property in Alrewas contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Alrewas tend to acquire the real estate, 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 Alrewas or who has acted in the same development.
How do I use the search tool to locate a conveyancing solicitor in Alrewas on the panel for my lender?
1st choose a lender such as Santander, Coventry Building Society or Aldermore then type in your location for example Alrewas. Conveyancing organisations in Alrewas and beyond will then be listed.