I am selling my maisonette in Ely and the estate agent has just called to warn that the purchasers are appointing a new property lawyer. The excuse is that the lender will only work with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with specific law firms rather the firm that they want to choose for their conveyancing in Ely ?
Lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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. The buyers are not going to have any impact on this.
We just had an offer accepted to purchase with Norwich and Peterborough Building Society. I went into 3 or 4 high street firms yet cant to find a Ely conveyancing firm on the Norwich and Peterborough Building Society approved list. Can you help?
Please do take advantage of the find a conveyancing panel solicitor tool on this site. Please choose the mortgage company and type Ely or your location and you will be presented with a number of lawyer based in Ely or nearest you.
I used Arc property Solicitors a few years past for my conveyancing in Ely. Now, I need my files however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Ely of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build flat in Ely. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Ely
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Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are surveyor prepared.
I opted to have a survey done on a house in Ely in advance of instructing solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some banks will refuse to grant a loan on this type of house.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. 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 used to dealing with flying freeholds in Ely. Conveyancing will be smoother if you use a solicitor in Ely especially if they regularly deal with such properties in Ely.
I'm remortgaging my primary home to a buy to let loan with Yorkshire Building Society and I will use the rest of the raised equity towards another property. The area we are interested in is Ely. Will your conveyancers be able to act for both sets of mortgage companies and tie in the conveyances?
Do use our search tool on this site to be sure that the lawyers are approved by both mortgage companies. Having checked that they are the solicitor will be able to connect the two deals but you should talk with you solicitor and make apparent your desired outcome and needs.