I am six weeks into the sale of my house in Ditchling and the EA has just called to advise that the purchasers are appointing a new solicitor. The reason given is that the lender will only engage with solicitors on their approved list. On what basis would a big named mortgage company only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Ditchling ?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to disclose 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.
The housing market in Ditchling is hotting up. What can I do to speed up matters?
First, If you are under pressure for your conveyancing it is advisable to make sure that your lawyer is familiar with the area as they will make use of local contacts and know-how. It is possible that they could have handled otherhomes in the same street. Therefore consider using a Ditchling conveyancing solicitor. In addition, be sure that the lawyer is on the on the approved list for your mortgage company. It is estimated that 18% of Ditchling conveyancing transactions are delayed or jeopardised after finding out that a purchaser’s conveyancer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the buying process being held up by almost 21 days. It is said that this issue affects in the region of 100,000 home sales every year. Almost all Ditchling conveyancing practices can not act for certain banks so do check at the outset.
I own a freehold residence in Ditchling yet charged rent, why is this and what is this?
It’s unusual for properties in Ditchling and has limited impact for conveyancing in Ditchling 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial site in Ditchling?
Many commercial conveyancing solicitors in Ditchling will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Ditchling. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Ditchling.
For each commercial conveyancing transaction in Ditchling it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Ditchling commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Ditchling.
We're first time buyers - agreed a price, yet the property agent informed us that the owners will only go ahead if we appoint their chosen conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Ditchling
We suspect that the seller is not behind this requirement. Should the vendor want ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you intend to appoint your preferred Ditchling conveyancing solicitors - as opposed tothose that will provide their negotiator at the agency a commission or hit his conveyancing figures set by corporate headquarters.
My in 2006. He has got married, divorced and is now remarried. He will be selling the property in a few weeks. I believe he will simply be need to provide a copy of the marriage certificates to the conveyancing practitioner however he is concerned it will frustrate the sale of the flat. Is it worth updating the Land Registry information for the property?
You are not required to bring up to date the register as long as you have the evidence needed to demonstrate how the change of name has come about.
Any purchaser’s conveyancer should examine the registered entries and request evidence to prove the name change for instance marriage certificates.