I am five weeks into the sale of my ground floor flat in Beddington and the EA has just called to say that the purchasers are switching property lawyer. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a major mortgage company only deal with certain solicitors rather the firm that they want to select for their conveyancing in Beddington ?
UK lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. 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. 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 unlikely to have any sway in the decision.
My Solicitor in Beddington is not listed on the Leeds Building Society Approved Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Leeds Building Society approved list?
The limited options open to you here include:
- Complete the purchase with your preferred Beddington lawyers but Leeds Building Society will need to instruct a conveyancer on their panel. This will inevitably rack up the total conveyancing fees as well as result in frustration.
- Choose a new practitioner to act in the purchase, not forgetting to check they are Persuade your conveyancer to do everything within their powers to join the Leeds Building Society conveyancing panel
My bid for a property was accepted at auction in Beddington. Conveyancing is required. What are my next steps?
Now that you have legally bound yourself to purchase you should retain a conveyancing practitioner soon as you are facing a pending a fixed date to complete the conveyancing. Every auction property will have a bespoke legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the conveyancing pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You should give this to the lawyer instructed by you as soon as possible. You also need to ensure that you have funds organised to complete on the date specified in the contract.
I happen to be the single recipient of my late father’s estate with all property in now in my sole name, including the my former home in Beddington. The Beddington property was put into my name in August. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be treated the same way as though I had purchased the property in August. Is the property unsalable for six months?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How sensible a view lenders take of it, depend on the lender as this obligation primarily exists to identify subsales or the flipping of properties.
I am currently in the process of buying my council flat in Beddington. I have a mortgage agreed with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
We are purchasing a property and the conveyancer has mentioned Chancel Repair for which the property could be liable because it falls into the area of such a church. She has suggested insurance. Is this really appropriate for conveyancing in Beddington
Unless a previous acquisition of the premises took place after 12 October 2013 you can take it that lawyers carrying out conveyancing in Beddington to continue to suggest a chancel search and or chancel repair liability insurance.
Are there restrictive covenants that are commonly identified during conveyancing in Beddington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Beddington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm refinancing my current property to a buy to let mortgage with Clydesdale and intend to use the remaining equity as a deposit on a second house. The location we are interested in is Beddington. Will your conveyancers be able to act for the two mortgage companies and tie in the conveyances?
Do use our comparison tool on this site to ensure that the solicitors are approved by both mortgage companies. Having checked that they are your solicitor should be able to connect the two conveyancing matters but you should have a chat with you solicitor and make apparent your desired outcome and needs.