I am nearing exchange of contracts for my ground floor flat in Cross Keys and the estate agent has just telephoned to say that the buyers are switching property lawyer. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. Why would a major lender only work with specific law firms rather the firm that they want to select for their conveyancing in Cross Keys ?
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 reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud by way of justification for the reduction – 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 claims that it is being contacted daily by practices 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. The purchasers are not going to have any sway in the decision.
I have been told that property searches are a common cause of hinderance in Cross Keys conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Cross Keys.
Are there restrictive covenants that are commonly identified as part of conveyancing in Cross Keys?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Cross Keys. 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…’
What does commercial conveyancing in Cross Keys cover?
Commercial conveyancing in Cross Keys incorporates a broad range of services, given by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Am I better off to go with a Cross Keys conveyancing solicitor based in the vicinity that I am hoping to buy? We have a good friend who can carry out the legal work but they are based approximately 350miles away.
The primary upside of using a high street Cross Keys conveyancing firm is that you can pop in to sign paperwork, hand in your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were content that must trump using an unfamiliar Cross Keys conveyancing lawyer just because they are round the corner.
My aunt completed her conveyancing in Cross Keys in 2008. She has been married, divorced and in recent months got remarried. She now wants to the sell the Cross Keys property. I suspect that she will just be asked to supply copies of her marriage certificates to the solicitor however she is anxious it could frustrate the conveyancing. Should she instruct a solicitor to update the Land Registry details for the property?
It is not absolutely necessary to bring up to date the title for the property providing you have the evidence needed to demonstrate how the name change occurred.
Any purchaser’s solicitor will check the registered details and ask for evidence by way of proof of the name change for example marriage certificates.