I am selling my apartment in Bakewell and the estate agent has just e-mailed to advise that the buyers are switching solicitor. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Bakewell ?
Banks have always had panels of law firms they are content to work with, but in the last few years big names such as Santander, have considered 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 reduction – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say 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. The buyers are not going to have any impact on this.
If you had a top tip for choosing a conveyancing solicitor in Bakewell what would it be?
It would be unwise to be seduced by the lowest Bakewell conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I just acquired a flat at auction in Bakewell. Conveyancing is required. What are my next steps?
Given that you have now legally committed yourself to purchase you now have to choose a conveyancing solicitor soon as you will have a fast approaching deadline in which to complete the deal. All auction property should have an associated legal pack. This will include evidence of title and search results. If you have purchased leasehold premises the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in order to complete the transaction on the set completion date.
At last I have had an offer on an apartment in Bakewell accepted, the vendors do however have a connected purchase. The owners have offered on on an apartment, however it’s not yet agreed to, and are looking at other flats booked. I have chosen a nearby conveyancing solicitor in Bakewell. What do I do now? When should I get the mortgage application with Nottingham going?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of £1k, then valuation, Bakewell conveyancing search charges, etc). The first course of action is to check that your solicitor is on the Nottingham approved list. Concerning the subsequent stages this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. During a hot market the majority of purchasers would apply for a home loan with Nottingham and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with searches.
three months have gone by following my purchase conveyancing in Bakewell concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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.
I have been on the look out for a ground for flat up to £305k and found one near me in Bakewell I like with amenity areas and railway links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Bakewell for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
Should I go with a Bakewell conveyancing practitioner who is local to the property I am buying? An old friend can carry out the conveyancing however his firm is located 200kilometers drive away.
The primary upside of using a high street Bakewell conveyancing firm is that you can drop in to sign documents, hand in your ID and apply pressure on them where appropriate. They will also have local insight which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were content that must trump using an unfamiliar Bakewell conveyancing lawyer just because they are round the corner.
What are my options where I am dissatisfied with the conveyancing practitioner who handled my conveyancing in Bakewell?
Occasionally the level of service you receive is not as you expect, and unfortunately sometimes things do go wrong. However there is recourse if you were dissatisfied with your conveyancing in Bakewell. This varies from trying to resolve matters directly with them, through to reporting a conveyancer to their governing body. If things still aren’t sorted out you may consider getting in touch with the Legal Ombudsman.