I am in the process of selling my ground floor flat in Freshford and the EA has just called to warn that the buyers are switching law firm. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a big named lender only work with certain law firms rather the firm that they want to appoint for their conveyancing in Freshford ?
Banks have always had panels of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to monitor. 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. 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. Your purchasers are not going to have any sway in the decision.
Can I use your services to locate a Conveyancing solicitor in Freshford even if I’m not purchasing or disposing of a house, for instance where I want to acquire an office in Freshford with a mortgage from Virgin Money?
Our search tool is mainly there to find domestic conveyancing solicitors in Freshford but we have recorded towards the bottom of this page some Freshford commercial conveyancing firms. You should speak with the company directly to establish if they are also authorised to represent Virgin Money
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Freshford so that I can pop in to their offices if necessary.
Whereas this was necessary 12 years ago, most mortgage companies no longer oblige their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to provide ID documents and there are still distinct benefits to instructing a local ayer, in your case a conveyancing solicitor in Freshford.
Is it the case that all Freshford solicitor practices on the TSB conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Freshford solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Freshford postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Freshford.
Bank of Ireland have agreed my home loan in principle, my bid on a property in Freshford has been agreed to, what happens next?
Your estate agent will need to be advised as to your lawyer's details (ensure that the lawyers are on the lender’s approved list). Contact Bank of Ireland or the financial adviser and finish off any relevant documentation. Bank of Ireland will sellect a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes approximately ten days to receive the mortgage offer. Bank of Ireland will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Freshford.
I have todaybeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Freshford for a purchase of a freehold house 12 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Freshford conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Freshford is the location of the property. Can you offer any guidance?
Flying freeholds in Freshford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Freshford you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Freshford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.