I am in the process of selling my home in Creekmouth and the estate agent has just text me to warn that the buyers are swapping property lawyer. The excuse is that the mortgage company will only work with property lawyers on their approved list. On what basis would a major lender only work with certain solicitors rather the firm that they want to select to handle their conveyancing in Creekmouth ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some 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.
Do I need to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Creekmouth so that I can attend their offices if required.
Most conveyancing panel lawyers for banks carry out the vast majority of communications through the post, e-mail or over the phone. This enables them to conduct the legal work for your home move no matter where you live in England or Wales. However you should see if you can still book an appointment to visit conveyancing lawyer if needed.
I used Arc property Solicitors several years past for my conveyancing in Creekmouth. Now, I need my documents but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Creekmouth of the conveyancing firm of solicitors you previously instructed, 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 Creekmouth differ for newly converted properties?
Most buyers of new build residence in Creekmouth approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Creekmouth typically acquire 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 conveyancing solicitors 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 used to new build conveyancing in Creekmouth or who has acted in the same development.
I own a leasehold house in Creekmouth. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Creekmouth who previously acted has now retired. Do I pay?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Creekmouth conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Creekmouth. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Creekmouth conveyancing firm who can help.
An example of a Lease Extension case for a Creekmouth property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The unexpired residue of the current lease was 69.77 years.
I have finally had an offer on an flat in Creekmouth accepted, but there is a chain. The sellers have offered on a flat, but it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a local conveyancing solicitor in Creekmouth. What should be my next step? When should I get the mortgage application with Co-operative going with Co-operative?
It is usual to have concerns where there is a chain given your reluctance to incur costs prematurely (mortgage application is approx one thousand pounds, then valuation, Creekmouth conveyancing search costs, etc). The first thing to do is ensure that your lawyer is on the Co-operative approved list. As to the next stages this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a hot market the majority of buyers will apply for the mortgage with Co-operative and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to proceed with the conveyancing in Creekmouth.