I am selling my flat in Earley and the EA has just telephoned to advise that the buyers are changing their property lawyer. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Earley ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks point to the increase in fraud as the reason for the reduction – criteria have been tightened 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 says it is hearing daily from firms 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 buyers are not going to have any sway in the decision.
How up to date is your database of Earley solicitors on the Bank of Ireland conveyancing panel? Do Bank of Ireland send you an updated list?
Earley conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
I acquired my flat on 2 January and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Earley expressed confidence that it should be dealt with in less than a month. Are transfers in Earley uniquely lengthy to register?
As far as conveyancing in Earley is concerned, registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can adjust according to who lodges the application, whether there are errors and if the Land registry have to notify any interested persons or bodies. Currently in the region of 80% of such applications are fully dealt with in less than three weeks but some can be subject to extensive hold-ups. Historically registration is effected once the buyer is living at the property thus post completion formalities is not always top priority yet where it is urgent that the the registration takes place urgently then you or your lawyers can speak with the land registry and explain the circumstances.
Due to the guidance of my in-laws I had a survey completed on a house in Earley ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks will not issue a mortgage on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Earley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Earley to see if the conveyancing will be more expensive.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Earley. I have chance upon a web site which looks to be the perfect answer If it is possible to get all formalities done via web that would be ideal. Do I need to 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?
We are about to buying a property in Earley. Conveyancing is not yet done but we wish to have the amount we are are purchasing for private from sites such as Nestoria. How do I ensure this is not noted?
The Land Registry by statute are bound to specify price paid data on a register of the title for residential properties countrywide which includes premises in Earley. The register of title is an open document, so the Land Registry would be breaking the law if they did not permit access to the register.
In essence you can ask the Land Registry to withhold the price paid entry but the answer would be a No.