I am in the process of selling my maisonette in Clarborough and the EA has just telephoned to say that the buyers are switching conveyancer. The excuse is that the lender will only work with property lawyers on their conveyancing panel. Why would a leading mortgage company only engage with specific law firms rather the firm that they want to select for their conveyancing in Clarborough ?
Mortgage companies 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 considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 buyers are not going to have any sway in the decision.
I have been told that property searches are the number one cause of stalling in Clarborough conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Clarborough.
How does conveyancing in Clarborough differ for newly converted properties?
Most buyers of new build premises in Clarborough approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Clarborough tend to purchase 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 property lawyers 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 Clarborough or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Clarborough I like with open areas and railway links nearby, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Clarborough suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Given that I am about to spend over three hundred thousand on 3 bedroom house in Clarborough I wish to talk to a solicitor regarding thetransaction prior to instructing the firm. Is this something that you can arrange?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your conveyancing in Clarborough.There is no ‘factory style conveyancing’ - each client is unique person, not a matter reference. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Clarborough should be the amount on the final invoice that you end up paying.
Should I instruct a Clarborough conveyancing solicitor based in the vicinity that I am hoping to buy? I have an old university friend who can handle the legal work but his firm is located approximately 350kilometers drive away.
The primary upside of using a high street Clarborough conveyancing practice is that you can attend the office to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. Having local Clarborough know how is a bonus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were impressed that must trump using an unfamiliar Clarborough conveyancing solicitor solely due to them being Clarborough based.