I am nearing exchange of contracts for my ground floor flat in Angmering and the EA has just e-mailed to say that the buyers are swapping property lawyer. The reason given is that the mortgage company will only engage with solicitors on their approved list. Why would a leading lender only deal with certain law firms rather the firm that they want to choose to handle their conveyancing in Angmering ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been tightened 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 being contacted daily by practices 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. Your buyers are unlikely to have any impact on this.
We have very brash sellers who has suggested a exclusivity contract with a payment 6,000. Are such contracts appropriate for Angmering conveyancing transactions?
This type of contract is not the norm in Angmering, conveyancers will often try and steer clients away from them as they divert attention from the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Secondly, there is no certainty that just because the proprietor has entered into an exclusivity contract they will complete the sale with you. They may breach the agreement if they are offered a large enough incentive to do so because a wronged claimant with the benefit of a lockoutcontract will still have to establish consequential losses from the breach and this may not equalise the financial benefit that the owner may secure by breaking the agreement, no matter how morally reprehensible it undoubtedly is.
My partner and I are planning on selling our home in Angmering and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A high street Angmering lawyer would know this is not the case. For the life of me I don't know why the buyers are using a national conveyancing outfit rather than a conveyancing solicitor in Angmering. We have lived in Angmering for three years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get clarification need.
It sounds as though you may have a conveyancing lawyer already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
3 months have gone by following my purchase conveyancing in Angmering completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Are there any apps to help locate a Angmering solicitor on the Barclays Direct conveyancing panel? I have wheels and am willing to travel upto 25miles to meet the solicitor.
Feel free to make use of the facility on this website. Please choose the bank and your location and you will see a number of Angmering conveyancing lawyers based on proximity. We have detailed some Angmering conveyancing firms at the bottom of this page and you can ring them to check if they are on the Barclays Direct approved list
I am just shy of a 10% deposit on my apartment purchase in Angmering , but I still want to exchange. Do I have options?
You can agree a lesser deposit. Many sellers will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute