I am in the process of selling my house in Emerson Park and the EA has just telephoned to advise that the purchasers are swapping law firm. I am told that this is due to the fact that the lender will only deal 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 appoint to handle their conveyancing in Emerson Park ?
UK lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. 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. 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. Your buyers are not going to have any sway in the decision.
IfI were to buy a freehold homein Emerson Park mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Emerson Park?
The sole saving you would make on is the Emerson Park conveyancing searches. A conveyancer still be obliged to do everything else - money laundering, correspond with the sellers solicitor, SDLT submission, register the property etc. A marginal saving might be made by not needing to register a mortgage but it won't be significant.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would much rather appoint a specialised conveyancing solicitor in Emerson Park?
You should check but the chances are that give you one of their panel conveyancers should you accept the "fee-free" offer. Speak to the lender to see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Emerson Park.
Me and my brother purchased a 4 bedroom Victorian property in Emerson Park. Conveyancing solicitor acted for me and Britannia. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the matching property. Is it worth asking Britannia to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Emerson Park and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing practitioner who completed the work.
Due to the guidance of my in-laws I had a survey completed on a property in Emerson Park before retaining conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor advised that some mortgage companies will refuse to give a loan on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further 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 Emerson Park. Conveyancing will be smoother if you use a solicitor in Emerson Park especially if they are accustomed to such properties in Emerson Park.
My company is intending to take over a lease of a shop on a shopping parade. Can you recommend lawyers offering no-move-no costs for non-domestic conveyancing in Emerson Park for below £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Emerson Park, including the sale and purchase of businesses as well as simply premises. If you are hoping to acquire or sell a shop, pub, restaurant, office, retail premises or a whole business we can find you the right firm. Regarding the charges this will depend on the structure and heads of terms of the proposed transaction. Let us have your details or email so as to enable us to furnish you with a detailed commercial conveyancing quote.