I am nearing exchange of contracts for my home in Clitheroe and the EA has just called to warn that the purchasers are switching law firm. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a big named lender only deal with certain lawyers rather the firm that they want to select for their conveyancing in Clitheroe ?
UK lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. 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 purchasers are not going to have any sway in the decision.
My husband and I intend to remortgage our maisonette in Clitheroe with Virgin Money. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Virgin Money conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Virgin Money. This is solely used to protect Virgin Money if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Virgin Money had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have an AIP. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would much rather instruct a Clitheroe based conveyancing firm?
You should check but the chances are that allocate you one of their panel conveyancers should you accept the "fee-free" deal. Contact the mortgage company and determine if they offer you a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Clitheroe.
I used Stirling Law several years past for my conveyancing in Clitheroe. Now, I need my files however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 Clitheroe 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Clitheroe. Conveyancing is daunting 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.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Clitheroe
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
My husband and I are four weeks into a residential purchase having been directed to solicitors by the high street agent to execute conveyancing in Clitheroe. I am not happy. Could you you assist me in finding new solicitors?
They would have to be very bad in order to consider changing them. Has the loan offer been issued? If so you will need to make them aware of the replacement lawyer and have the offer are re-issued. The solicitor ideally needs to be on the lenders panel to avoid added expenses and delays. That should be your starting point. Our find a solicitor tool will assist you in finding a bank approved lawyer for your home move in Clitheroe