I am selling my maisonette in Attleborough and the EA has just called to warn that the purchasers are appointing a new law firm. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a leading lender only deal with specific law firms rather the firm that they want to appoint to handle their conveyancing in Attleborough ?
Banks have always had an approved set of law firms they are willing to work with, 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 worked with them for more than 15 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. 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. 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 purchasers are not going to have any impact on this.
I purchased a freehold property in Attleborough but still pay rent, why is this and what is this?
It’s unusual for properties in Attleborough and has limited impact for conveyancing in Attleborough but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
The deeds to my property are lost. The solicitors who dealt with the conveyancing in Attleborough 5 years ago no longer exist. What do I do?
Assuming the title is registered the details of your proprietorship will be recorded by HMLR under a Title Number. It is possible to perform a search at the Land Registry, find your property and get up to date copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will also normally hold a certified duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
How does conveyancing in Attleborough differ for newly converted properties?
Most buyers of new build or newly converted property in Attleborough contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Attleborough usually purchase 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 conveyancing solicitors 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 accustomed to new build conveyancing in Attleborough or who has acted in the same development.
I have been advised by numerous property agents in Attleborough to find a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to offer your site ahead of alternative conveyancing organisations?
We refuse to make any referral fee for directing people in our direction. We thought it would be too underhand a fee as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My uncle has suggested that I use his conveyancers in Attleborough. Do I follow his recommendation?
Much as we are happy to recommend a Attleborough conveyancing lawyer the ideal way to choose a conveyancing practitioner is to seek referrals from friends or family who have used the firm that you are contemplating using.