I am in the process of selling my ground floor flat in Chippenham and the EA has just telephoned to say that the purchasers are appointing a new conveyancer. The excuse is that the mortgage company will only work with property lawyers on their approved list. Why would a big named lender only engage with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Chippenham ?
UK lenders have always had an approved set of law firms they are content 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 over 25 years.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. 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 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 sway in the decision.
My brother-in-law has suggested I instruct a conveyancing solicitor in Chippenham. I I am struggling to find out whether they are accepted on the Bank of Ireland approved list of lawyers. Can you assist?
The first thing you should do is e-mail your solicitor and ask them if they can act for the bank. Otherwise you can call Bank of Ireland who may be able to help.
I used Arc property Solicitors a few years ago for my conveyancing in Chippenham. Now, I need my documents however the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Chippenham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Chippenham differ for newly converted properties?
Most buyers of new build premises in Chippenham come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Chippenham tend to buy the real estate, 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 accustomed to new build conveyancing in Chippenham or who has acted in the same development.
I am looking for a flat up to £245,000 and found one round the corner in Chippenham I like with amenity areas and station nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Chippenham in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I see that you have a search directory identifying solicitors on the mortgage company conveyancing panel. Do Chippenham conveyancing companies pay you a commission if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Chippenham.