I am progressing with the sale of my apartment in Bitterne and the estate agent has just text me to advise that the buyers are switching conveyancer. I am told that this is due to the fact that the bank will only deal with property lawyers on their approved list. On what basis would a major lender only deal with certain law firms rather the firm that they want to choose for their conveyancing in Bitterne ?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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. 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. The purchasers are not going to have any impact on this.
We are approaching an exchange on a house in Bitterne and my mum and dad have transferred the ten percent deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
The property lawyer is obliged to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Should our lawyer be making enquiries regarding flooding as part of the conveyancing in Bitterne.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Bitterne. There are those who purchase a property in Bitterne, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous searches that may be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Bitterne. The standard information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to determine if the premises has suffered from flooding. If flooding has previously occurred and is not disclosed by the owner, then a purchaser could bring a claim for damages resulting from an incorrect reply. The purchaser’s lawyers will also order an enviro search. This will indicate if there is any known flood risk. If so, more detailed investigations will need to be carried out.
I bought my apartment on 10 September and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Bitterne said it will be concluded in less than a month. Are properties in Bitterne particularly slow to register?
There is nothing unique about conveyancing in Bitterne registration formalities. Rather than based on location, timeframes can vary subject to who lodges the application, whether it is in order and if the Land registry must send notices to any interested parties. At present in the region of three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be protracted hold-ups. Registration takes place after the purchaser has moved in to the premises therefore an expedited registration is not always an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
How do I locate a Bitterne law firm on the Norwich and Peterborough Building Society conveyancing panel? I have wheels and am happy to travel upto 10kilometers to meet the solicitor.
You can use the search on this website. Please choose the lender and your location and you will see a number of Bitterne conveyancing lawyers based on proximity. We have detailed some Bitterne conveyancing firms at the bottom of this page and you can telephone them to check if they are on the Norwich and Peterborough Building Society approved list
I need to find a bank panel solicitor in Bitterne. Could you help me?
Unfortunately it’s not apparent why you need a Bitterne panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Bitterne are on their panel . If you do find such a firm in Bitterne not listed please direct them to our site to list. After all the cost is only one £1 a month