I am in the process of selling my apartment in Grimsby and the EA has just called to advise that the purchasers are appointing a new solicitor. The excuse is that the bank will only work with property lawyers on their approved list. Why would a big named mortgage company only work with specific solicitors rather the firm that they want to select for their conveyancing in Grimsby ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions point to the increase in fraud as the reason for the reduction – 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 claims that 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.
We see that you have a post code search directory identifying firms on the Co-operative conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Grimsby?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Grimsby.
I am mortgaging my house in Grimsby, does my lawyer need to be on the Bank of Ireland Conveyancing panel?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
There are numerous conveyancing solicitors in Grimsby but how do I know who's good?
We would encourage you not to go for the cheapest Grimsby conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
About to purchase flat in Grimsby. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Grimsby lawyer is on the Nottingham conveyancing panel.
My sealed bid on a house in Grimsby has been agreed to, the owners do nevertheless have a connected purchase. The sellers have offered on a property, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have instructed a local conveyancing solicitor in Grimsby. What should be my next step? When should I get the mortgage application with RBS started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, Grimsby conveyancing search fees, etc). The first course of action is to ensure that your conveyancing practitioner is on the RBS conveyancing panel. Regarding the next stages this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. In a hot market many home buyers will apply for the mortgage with RBS and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to proceed with searches.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Grimsby I like with open areas and transport links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Grimsby suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
What makes your site different to other online quote calculators for conveyancing in Grimsby?
At this site get a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Grimsby. Unlike many estate agents and many comparison sites we do not operate commission arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors that pays the highest per referral, not the best value conveyancing in Grimsby