I am selling my house in Curdworth and the EA has just e-mailed to advise that the buyers are changing their property lawyer. The reason given is that the bank will only deal with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with certain law firms rather the firm that they want to select for their conveyancing in Curdworth ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have considered 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 as the reason for the pruning – 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 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 purchasers are unlikely to have any sway in the decision.
I am purchasing a garden flat in Curdworth. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Curdworth you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Curdworth.
I know that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when buying a house in Curdworth? or I am told that there is a law dating back centuries that means some house owners residing in a parish church boundary may be liable to contribute towards maintenance towards the chancel in proximity to the church. Is this relevant for conveyancing in Curdworth?
Unless a previous purchase of the premises took place post 12 October 2013 you can expect lawyers conducting conveyancing in Curdworth to remain recommending a chancel search and or chancel repair liability policy.
How does conveyancing in Curdworth differ for new build properties?
Most buyers of new build or newly converted property in Curdworth approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Curdworth usually 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 conveyancers 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 Curdworth or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Curdworth I like with open areas and station nearby, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Curdworth in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
Is it possible to change conveyancer as I have to instruct one who is on the The Royal Bank of Scotland conveyancing list. I had appointed a local conveyancing solicitor in Curdworth round the corner but she is not approved by The Royal Bank of Scotland
It would be our pleasure to help you select a conveyancing solicitor in Curdworth on the The Royal Bank of Scotland panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Curdworth. Using the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Curdworth.