I am selling my flat in Essex and the estate agent has just called to advise that the buyers are swapping solicitor. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. On what basis would a big named mortgage company only deal with specific solicitors rather the firm that they want to select for their conveyancing in Essex ?
Mortgage companies have always had panels of law firms that can represent them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions blame a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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 unlikely to have any sway in the decision.
Please explain the implications if my solicitor is expelled from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Essex?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I require fast conveyancing in Essex as I am faced with pressure to sign on the dotted line in less than one month. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
If.Given you are not taking a home loan you are at free not to do searches although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Essex the following are examples of issues that can arise and adversely affect future mortgageability: Enforcement Actions, Outstanding Fees, Overdue Grants, Unadopted Roads,...
Are there restrictive covenants that are commonly picked up as part of conveyancing in Essex?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Essex. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What is different about your site and other web based conveyancing solicitors when it comes to conveyancing in Essex?
At this site obtain a conveyancing quote via a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Essex. As opposed to estate agents and many comparison sites we do not charge firms a fee if you instruct them for your home move in Essex
I have just appointed agents to market my basement flat in Essex.Conveyancing is yet to be initiated however I have recently received a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is discharge the invoice as you normally would as all rents and service charges should be allottedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially