I am in the process of selling my flat in Boroughbridge and the estate agent has just telephoned to say that the purchasers are changing their conveyancer. The excuse is that the bank will only work with property lawyers on their conveyancing panel. Why would a big named lender only engage with specific lawyers rather the firm that they want to choose to handle their conveyancing in Boroughbridge ?
Mortgage companies 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 worked with them for more than 15 years.
Lending institutions justify this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to disclose 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 sway in the decision.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Boroughbridge?
There are many registered licenced Conveyancers in Boroughbridge and Solicitor firms in Boroughbridge who can assist with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. The two can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Have just purchased a probate house at auction in Boroughbridge. Conveyancing is needed. What is next?
Now that you have exchanged you must instruct a conveyancing lawyer soon as you are facing a fast approaching a fixed date to complete the deal. An auction property should have a bespoke legal pack. This will include most,if not all of the documents that your lawyer will need. If you have purchased leasehold property the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You need to pass this on to your appointed conveyancing solicitor ASAP. Do make sure that your finances are organised to complete on the on the contractual date .
The formalities of my purchase has taken place for my property in Boroughbridge. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
What does a local search reveal about the house we're purchasing in Boroughbridge?
Boroughbridge conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance Xpress Legal The local search is essential in every Boroughbridge conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
The estate agent has sent us the confirmation of our purchase of a new build flat in Boroughbridge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Boroughbridge
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Due to the advice of my in-laws I had a survey completed on a property in Boroughbridge before appointing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies will not give a mortgage on this type of home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Boroughbridge. Conveyancing will be smoother if you use a solicitor in Boroughbridge especially if they are familiar with such properties in Boroughbridge.
Whilst your website is a good idea there are many lawyers listed near Boroughbridge being on the mortgage company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our mortgage company?
We are not in the business of recommending one firm above another as the right Boroughbridge conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Boroughbridge knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..