I am 3 weeks into the sale of my apartment in Downham Market and the EA has just e-mailed to say that the buyers are swapping property lawyer. The reason given is that the mortgage company will only engage with property lawyers on their approved list. Why would a big named mortgage company only engage with specific law firms rather the firm that they want to choose for their conveyancing in Downham Market ?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks attribute this action to a rise in fraud as the reason for the reduction – criteria have been tightened 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 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. The buyers are not going to have any sway in the decision.
four months have gone by since my purchase conveyancing in Downham Market completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the input of my in-laws I had a survey completed on a house in Downham Market before instructing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some banks will refuse to give a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Downham Market. Conveyancing may be slightly more expensive based on your lender's requirements.
Is there anything unique about your site and alternative web based conveyancing solicitors for conveyancing in Downham Market?
At this site obtain a conveyancing quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Downham Market. Unlike many estate agents and brokerage sites we are not in the business of charging firms a fee if you choose them for your property ownership legalities in Downham Market
I need to find a conveyancing solicitor for purchase conveyancing in Downham Market. I happened to chance upon a web site which appears to be the perfect offering If it is possible to get all the legals done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just discovered that one of the partners of the solicitors handling the purchase conveyancing in Downham Market is an aunty of the owners that we are purchasing from. Is this acceptable?
As long as there is no conflict of interest this should be fine. Where you are obtaining a home loan then the bank may have a say as many banks have specific instructions on this. For example for Santander A&L as of 17/2/2025, the requirements read as follows :