I am one month into the sale of my flat in Gamlingay and the EA has just telephoned to warn that the buyers are switching conveyancer. The reason given is that the lender will only work with property lawyers on their conveyancing panel. Why would a big named lender only engage with certain solicitors rather the firm that they want to appoint for their conveyancing in Gamlingay ?
UK lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions justify this action to a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. 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 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 purchasers are not going to have any impact on this.
This question may be naive but I am unseasoned as a first time buyer of a two bedroom flat in Gamlingay. Do I pick up the keys to the premises on the completion date from my conveyancer? If this is the case, I will instruct a High Street conveyancing solicitor in Gamlingay?
On the day of completion you will not be required to attend the conveyancers office in Gamlingay. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be called to pick up the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
When it comes to lenders such as Santander, do Gamlingay conveyancers face a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
After much negotiation I have agreed a price on an apartment in Gamlingay. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £150. Shortly after, the lawyer called me to say that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
We are purchasing a property and the solicitor has identified Chancel Repair to which the house could be liable given it’s proximity to the area of such a church. She has recommended insurance. Is this strictly necessary for conveyancing in Gamlingay
Unless a prior acquisition of the premises took place after 12 October 2013 you can expect conveyancing practitioners carrying out conveyancing in Gamlingay to continue to propose a a chancel search and or insurance against a claim.
Me and my brother own a semi-detached Georgian property in Gamlingay. Conveyancing practitioner represented me and Nottingham Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Gamlingay and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing solicitor who conducted the work.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Gamlingay. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Gamlingay
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I need to appoint a conveyancing solicitor for freehold conveyancing in Gamlingay. I happened to discover a site which seems to have the ideal solution If there is a chance to get all this stuff completed via email that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?