I am 4 weeks into the sale of my apartment in Clun and the estate agent has just called to say that the buyers are switching law firm. The reason given is that the lender will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Clun ?
Banks have always had panels of law firms they are willing to work with, but in the last few years big names such as Nationwide, 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 by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say 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 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. Your purchasers are not going to have any sway in the decision.
I own a freehold residence in Clun but nevertheless pay rent, why is this and what is this?
It is rare for properties in Clun and has limited impact for conveyancing in Clun but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I have been told that property searches are the main cause of delay in Clun house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Clun.
Are there restrictive covenants that are commonly identified as part of conveyancing in Clun?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Clun. 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…’
Is it simple use your search app to select a conveyancing solicitor in Clun on the authorised to act for my lender?
Step one is to pick a bank such as Barclays , Leeds Building Society or Platform Home Loans Ltd then specify your location such as Clun. Conveyancing firms in Clun and nationally will then be identified.
What are my options where I am unhappy with the conveyancer who did my conveyancing in Clun?
We live in an imperfect world, and is is a fact of life that every so often matters do not go as planned. However there is recourse if you were unhappy with your conveyancing in Clun. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their regulator. If you remain unhappy you may consider getting in touch with the Legal Ombudsman.