I am progressing with the sale of my home in Grimsby and the estate agent has just telephoned to warn that the buyers are swapping property lawyer. The reason given is that the lender will only work with solicitors on their approved list. On what basis would a major mortgage company only work with certain solicitors rather the firm that they want to select to handle their conveyancing in Grimsby ?
Banks have always had panels of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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. The buyers are not going to have any impact on this.
Do I need to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Grimsby so that I can pop in to their offices if required.
Most approved lawyers for mortgage companies conduct the vast majority of communications via Royal Mail, internet or over phone calls. This means that they can undertake the conveyancing transaction no matter where you live in the country. That being said you should see if you have the option of attending the offices of your conveyancing lawyer if needed.
We are buying a house and the lawyer has referenced Chancel Repair for which the property may be obligated to contribute to because it falls into the area of such a church. She has suggested insurance. Is this strictly necessary for conveyancing in Grimsby
Unless a prior purchase of the house took place after 12 October 2013 you could expect conveyancing practitioners conducting conveyancing in Grimsby to remain recommending a chancel search and or insurance against a claim.
How does conveyancing in Grimsby differ for new build properties?
Most buyers of new build premises in Grimsby contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Grimsby tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Grimsby or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Grimsby prior to instructing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some banks will refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you contact us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Grimsby. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Grimsby to see if the conveyancing will be more expensive.
I am looking to sell my home. My former conveyancers has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Grimsby if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Grimsby. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.