How do I check that the solicitor conducting my conveyancing in Durham is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £192.00 in another set of conveyancing fees.
You should take advantage of the search tool on this page. Please choose the lender and type ‘Durham’ or your location and you will be presented with a number of lawyer offices in Durham or by proximity to you.
My bid for a property was accepted at auction in Durham. Conveyancing is needed. What happens now?
Given that you are now legally committed yourself to purchase you should choose a conveyancing solicitor quickly as you are faced with a fast approaching deadline in which to complete the property. Every auction property will ordinarily have a bespoke legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You must pass this on to the lawyer working for you as soon as possible. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
My wife and I purchasing a end of terrace house in Durham. The intention is to an extension at the rear at the property.Will legal due diligence on the property include enquiries to see if these alterations are allowed?
Your property lawyer will review the registered title as conveyancing in Durham will occasionally identify restrictions in the title deeds which prevent categories of changes or require the consent of another owner. Many works require local authority planning consent and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these things with a surveyor prior to committing yourself to a purchase.
When it comes to lenders such as Yorkshire BS, do Durham solicitors have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I have been told that property searches are the number one reason for hinderance in Durham house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Durham.
Due to the encouragement of my in-laws I had a survey completed on a property in Durham in advance of retaining solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies will not grant a loan on this type of premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Durham. Conveyancing will be smoother if you use a solicitor in Durham especially if they regularly deal with such properties in Durham.
My husband and I are novice buyers - had an offer accepted, yet the selling agent told us that the owners will only go ahead if we appoint the agent's preferred lawyers as they are insisting on a ‘quick sale’. We would rather use a local solicitor used to conveyancing in Durham
We suspect that the seller is not behind this request. Should the seller require ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to appoint your preferred Durham conveyancing lawyers - as opposed tothose that will earn their negotiator at the agency a kickback or hit his conveyancing targets pre-set by head office.
My 20yr old son is about to join the property ladder, he had his mortgage in principle. One the seller agreed the offer on the flat we called the mortgage institution to go forward with his. I was shocked to discover that banks do not accept all lawyer, they must be on their panel, is this legal?
Lenders tend to imposes restrictions either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Durham property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.