I am progressing with the sale of my ground floor flat in Farnham Common and the estate agent has just e-mailed to say that the buyers are changing their solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. Why would a leading lender only work with specific law firms rather the firm that they want to select for their conveyancing in Farnham Common ?
Lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to maintain. 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 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 purchasers are unlikely to have any sway in the decision.
My son is purchasing a new build apartment in Farnham Common with a home loan from Nottingham. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What is the first thing I need to know regarding purchase conveyancing in Farnham Common?
You may not hear this from too many lawyers but conveyancing in Farnham Common or throughout Buckinghamshire is an adversarial experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for friction between you and others involved in the transaction. E.g., the vendor, estate agent and sometimes a lender. Appointing a solicitor for your conveyancing in Farnham Common should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the process whose interest is to act in your legal interests and to keep you safe.
Sometimes a third party with a vested interest may attempt to sway you that you should follow their advice. For example, the selling agent may claim to be helping by suggesting your conveyancer is slow. Or your mortgage broker may try to convince you to do take action that is contrary to your conveyancers recommendation. You should always trust your lawyer above all other parties in the home moving process.
Should our lawyer be making enquiries concerning flooding during the conveyancing in Farnham Common.
Flooding is a growing risk for conveyancers dealing with homes in Farnham Common. There are those who acquire a house in Farnham Common, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, however there are a numerous searches that may be initiated by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Farnham Common. The conventional set of property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to discover whether the property has suffered from flooding. In the event that the residence has been flooded in past and is not disclosed by the owner, then a purchaser may commence a claim for damages resulting from an incorrect answer. A buyer’s lawyers should also order an environmental report. This should reveal whether there is any known flood risk. If so, further inquiries should be carried out.
Despite weeks of looking the Title Certificate and documents to our house are lost. The conveyancers who handled the conveyancing in Farnham Common 5 years ago are no longer around. What are my next steps?
You no longer need to hold title original deeds to prove you are the registered proprietor of land or property, as the Land Registry hold details of all registered land or property electronically.
I am downsizing from my home. My past solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Farnham Common if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Farnham Common. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.