I am in the process of selling my house in Chase Cross and the estate agent has just e-mailed to warn that the purchasers are changing their property lawyer. I am told that this is due to the fact that the lender will only work with property lawyers on their conveyancing panel. On what basis would a leading lender only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Chase Cross ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the reduction – criteria have been tightened 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. 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. Your purchasers are unlikely to have any sway in the decision.
Can your site be used to find a Conveyancing solicitor in Chase Cross even if I’m not buying or disposing of a house, for example where I want to acquire an office in Chase Cross with a mortgage from Nottingham Building Society?
The service is primarily used to help choose residential conveyancing solicitors in Chase Cross but we have listed at the end of this page some Chase Cross commercial conveyancing firms. You will need to enquire with the solicitors directly to establish if they are also authorised to represent Nottingham Building Society
I have been told that property searches are a common cause of stalling in Chase Cross house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Chase Cross.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Chase Cross?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Chase Cross. 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…’
How does conveyancing in Chase Cross differ for newly converted properties?
Most buyers of new build residence in Chase Cross come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Chase Cross tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Chase Cross or who has acted in the same development.
My husband and I are novice buyers - agreed a price, but the property agent told us that the owners will only move forward if we use the agent's recommended conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor with experience of conveyancing in Chase Cross
We suspect that the seller is unaware of this requirement. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to appoint your preferred Chase Cross conveyancing solicitors - not the ones that will give the estate agent a kickback or achieve conveyancing figures pre-set by head office.