I am in the process of selling my maisonette in Bucklesham and the estate agent has just text me to advise that the purchasers are switching conveyancer. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. Why would a leading lender only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Bucklesham ?
Banks have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been stiffened 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 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. The buyers are unlikely to have any impact on this.
My wife and I are buying a new build flat in Bucklesham and my lawyer is informing me that she has to the mortgage company to disclose incentives from the seller. I am on a tight deadline to sign contracts and I don't want to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am buying a flat and require a conveyancing solicitor in Bucklesham who is on the Leeds Building Society solicitor. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Leeds Building Society in certain locations such as Bucklesham. We dont recommend any particular firm.
We are planning to move property in January. Does my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you suggest a removal company in Bucklesham. Conveyancing solicitor was organised prior to coming across your site.
On the afternoon of completion you will need to collect the keys from the selling agent but this can only take place once the previous owners solicitors confirm to the agent that they have the completion monies and the keys can be given over. You will need to inform the removal company that you are ready to move in. We do not recommend a particular removal organisation but can help you locate a residential property solicitor in Bucklesham or a legal practice that specialises in conveyancing in Bucklesham.
I had a mortgage agreed in principle with Bank of Ireland. Bucklesham conveyancing practitioners are chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland completed the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My offer on a property in Bucklesham has been agreed to, the owners do however have an associated purchase. The vendors have offered on on an apartment, but it’s not yet tied up, and have viewings of other apartments booked. I have chosen a high street conveyancing solicitor in Bucklesham. What should be my next step? At what stage should I apply for the mortgage with TSB?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx one thousand pounds, then survey, Bucklesham conveyancing search costs, etc). First, you should check that your solicitor is on the TSB approved list. Concerning the next stages this very much depends on the uniqueness of your transaction, attraction to this property and on the state of the market. During a rising market the majority of buyers would apply for the mortgage with TSB and pay for the valuation and only if it comes back ok would they ask their lawyer to proceed with searches.
My wife and I purchased a terraced Victorian house in Bucklesham. Conveyancing solicitor acted for me and Barclays Direct. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the matching property. Is it worth asking Barclays Direct to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bucklesham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing practitioner who carried out the work.
We're FTB’s - had an offer accepted, yet the property agent has warned us that the vendor will only move forward if we use their recommended solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor used to conveyancing in Bucklesham
It is unlikely the owners are behind this. Should the owner desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are chain free (d) you wish to move quickly (e)however you will continue to use your preferred Bucklesham conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or meet his conveyancing thresholds demanded by head office.