I am nearing exchange of contracts for my flat in Cranleigh and the estate agent has just e-mailed to say that the buyers are swapping solicitor. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their approved list. On what basis would a leading lender only deal with specific solicitors rather the firm that they want to appoint for their conveyancing in Cranleigh ?
UK lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Santander, have reviewed 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 as the reason for the cull – criteria have been stiffened 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 hearing daily from firms 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 buyers are not going to have any impact on this.
Finally the sale completed on my house in Cranleigh last May yet the purchaser is Skype messaging me to say his solicitor needs to hear from mine. What should have happened following completion?
Post completion of your house sale your solicitor should forward the transfer deeds and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your conveyancer must also evidence that the mortgage has been discharged to the buyers lawyers. There is unlikely to be post completion requirements just for conveyancing in Cranleigh.
Is there a search tool that I can use to discover of the solicitor handling my conveyancing in Cranleigh is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Santander thus spending £192.00 in another set of legal fees.
Please do make the most of the find a conveyancing panel solicitor tool on this page. Please choose the lender and type ‘Cranleigh’ or your location and you will see numerous solicitors located in Cranleigh or near you.
Should my conveyancer be raising enquiries about flooding during the conveyancing in Cranleigh.
Flooding is a growing risk for conveyancers conducting conveyancing in Cranleigh. Some people will acquire a house in Cranleigh, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, but there are a various checks that can be undertaken by the buyer or on a buyer’s behalf which can figure out the risks in Cranleigh. The standard completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to find out whether the property has historically flooded. If the premises has been flooded in past and is not disclosed by the vendor, then a purchaser could issue a claim for damages as a result of such an misleading response. A buyer’s solicitors may also carry out an environmental report. This will higlight whether there is any known flood risk. If so, additional inquiries will need to be carried out.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Cranleigh I like with a park and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Cranleigh suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the shortness of the lease will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
Do online conveyancing organisations cover everything a high street Cranleigh solicitor does or must I retain a solicitor for the final stages for my conveyancing in Cranleigh?
If you instruct an online conveyancer they will undertake all the work your Cranleigh conveyancer would cover.