I am one month into the sale of my ground floor flat in Great Missenden and the EA has just telephoned to say that the purchasers are swapping law firm. The excuse is that the mortgage company will only deal with solicitors on their approved list. On what basis would a big named lender only work with specific lawyers rather the firm that they want to select to handle their conveyancing in Great Missenden ?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been tightened 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 being contacted daily by practices 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. Your buyers are not going to have any sway in the decision.
Are you able to recommend a Britannia allowed Great Missenden conveyancing solicitor that can complete within two weeks? Would it be better to use a high street Great Missenden conveyancer or a nationwide firm?
We can recommend some very good Great Missenden conveyancing firms. You can also walk up the main road in Great Missenden. Approach some well established law practices and ask to see a conveyancing solicitor for a quote. Explain your time frames together with the reasons and get a commitment on speed. Choose the one that appears most efficient.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Nottingham Solicitor panel ahead of completing my conveyancing in Great Missenden?
First, this is very unlikely to happen. 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.
Will my solicitor be raising questions about flooding as part of the conveyancing in Great Missenden.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Great Missenden. There are those who acquire a property in Great Missenden, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house 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 during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a number of checks that may be carried out by the buyer or by their lawyers which will give them a better appreciation of the risks in Great Missenden. The conventional set of property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the seller to find out whether the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a purchaser could commence a compensation claim as a result of such an inaccurate reply. The buyer’s solicitors may also commission an environmental search. This will reveal whether there is a recorded flood risk. If so, additional inquiries should be conducted.
Me and my brother purchased a semi-detached Georgian property in Great Missenden. Conveyancing practitioner represented me and Lloyds TSB Bank. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read 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 Great Missenden and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who conducted the work.
In my capacity as executor for the estate of my uncle I am disposing of a property in Cardiff but I am based in Great Missenden. My conveyancer (based 250 miles awayhas requested that I sign a stat dec ahead of completion. Can you recommend a conveyancing solicitor in Great Missenden who can attest and place their company stamp on the document?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are located in Great Missenden