I am in the process of selling my apartment in Fawley and the estate agent has just text me to advise that the purchasers are swapping solicitor. The excuse is that the lender will only work with solicitors on their conveyancing panel. Why would a big named lender only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Fawley ?
Banks have always had panels of law firms that can act for them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies blame a rise in fraud by way of justification for the pruning – 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 claims that 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. The purchasers are not going to have any sway in the decision.
Do the conveyancing lawyers that you recommend conduct right to buy conveyancing in Fawley?
We work with numerous conveyancing conveyancers carrying out right to buy conveyancing matters Please call us to get a costs calculation.
My fiance and I intend to purchase a purpose built apartment in Fawley with a residential mortgage from Godiva Mortgages Ltd.We like our Fawley conveyancing practitioner but Godiva Mortgages Ltd says her practice is not listed on their "panel". It seems we are left with no choice but to instruct a Godiva Mortgages Ltd panel solicitor or keep our high street solicitor and pay for a Godiva Mortgages Ltd panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, a common one being that lawyers will be on the Godiva Mortgages Ltd conveyancing panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Godiva Mortgages Ltd
I acquired my house on 5 May and the transaction details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Fawley advises it will be dealt with in less than a month. Are transfers in Fawley uniquely lengthy to register?
There is nothing unique about conveyancing in Fawley registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether it is in order and if the Land registry have to notify any interested parties. As of today approximately 80% of submission are fully dealt with in less than three weeks but some can be subject to extensive delays. Historically registration is effected after the purchaser is living at the property so registration formalities is not always an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
I opted to have a survey completed on a property in Fawley prior to appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some lenders will not issue a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fawley. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Fawley cover?
Fawley conveyancing for business premises covers a wide range of services, provided by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.