I am nearing exchange of contracts for my home in Harwell and the estate agent has just text me to advise that the buyers are changing their solicitor. The excuse is that the bank will only work with property lawyers on their approved list. Why would a leading mortgage company only deal with certain law firms rather the firm that they want to select for their conveyancing in Harwell ?
Mortgage companies have always had an approved set of law firms they are willing to work with, 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 acted for them for decades.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal 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. 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. The buyers are unlikely to have any impact on this.
In the event thatI was to acquire a simple residential homein Harwell for cash and dispense with a survey and no local authority searches how much should I expect to to save on my conveyancing in Harwell?
Any savings you would gain will be isolated to the Harwell conveyancing searches. A lawyer is obliged to do the vast majority of work - money laundering, correspond with your sellers lawyer, stamp duty submission, register the property etc. A marginal saving might be made by not needing to register a mortgage but it will not be a lot.
Do the Building Society Association intend to launch a searchable register to to identify firms on the Norwich and Peterborough Building Society conveyancing panel for example in Harwell?
Lexsure has not been advised of any intention on the part of the BSA to develop such a register.
We are aiming to move home in July. Does my conveyancing solicitor liaise with the removal company on the day of completion. Incidentally, can you suggest a removal company in Harwell. Conveyancing solicitor was chosen prior to coming across your website.
On the day of completion you can collect the house keys from the selling agent but this should only happen when the sellers conveyancers confirm to the agent that the monies to complete are in and the keys can be collected. You should inform the removal men that you are ready to move in. As a matter of policy we do not suggest a particular removal organisation but can help you choose a residential property solicitor in Harwell or a solicitor that specialises in conveyancing in Harwell.
I am purchasing a property in Harwell. One unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Santander your lawyer must comply with the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and lawyers are required to report to Santander where a lease does not meet these requirements. The provisions relate to the installation of panels on properties countrywide and is not limited to Harwell.
Nottingham have agreed my home loan in principle, my bid on a flat in Harwell has been accepted, what happens next?
Your property agent will want to be informed of your conveyancing practitioner's details (ensure that the lawyers are on the lender’s panel). Telephone Nottingham or your financial adviser and finish off any appropriate forms. Nottingham will appoint a valuer who will get in touch with the estate agent or vendor to book a slot for the valuation to occur. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Nottingham will send 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 Harwell.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Harwell is the location of the property. Can you shed any light on this issue?
Flying freeholds in Harwell are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Harwell 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 Harwell may determine 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 premises.
Living abroad I am unable to attend my Harwell conveyancing solicitors office to execute documents for conveyancing in Harwell – will this be problematic?
No. Harwell conveyancing solicitors can deal with conveyancing transactions for clients throughout the rest of the country. You are unlikely to be required to be present a Harwell conveyancers office. Almost all conveyancing practitioner can handle everything remotely from their Harwell premises.