I am nearing exchange of contracts for my flat in Haverhill and the EA has just e-mailed to warn that the buyers are changing their solicitor. The reason given is that the lender will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only deal with specific law firms rather the firm that they want to select for their conveyancing in Haverhill ?
Lenders have always had an approved set of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks attribute this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose 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 buyers are unlikely to have any impact on this.
Would the conveyancing lawyers via your comparison service execute conveyancing in Haverhill by way of an attended exchange?
There are a few conveyancing specialists carrying out attended exchanges. You should call us to get a costs illustration and details as to availability.
I happen to be the single recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Haverhill. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the house in September. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many mortgage companies would take a sensible view as this requirement primarily exists to capture the purchase and immediately sell or the wholesaling and assigning of properties.
Last month we had a mortgage agreed in principle with Skipton. Haverhill conveyancing practitioners have been chosen. How long does it take for Skipton to forward the offer to the solicitor?
There is no definitive answer here. Have Skipton done the survey? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am selling my apartment. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Coventry BS are being pedantic. The Haverhill solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Will my solicitor be making enquiries about flooding during the conveyancing in Haverhill.
Flooding is a growing risk for solicitors conducting conveyancing in Haverhill. There are those who purchase a house in Haverhill, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or by their lawyers which will figure out the risks in Haverhill. The standard property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to find out if the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the owner, then a buyer may commence a legal claim for losses stemming from an inaccurate response. A purchaser’s conveyancers will also conduct an environmental report. This should reveal whether there is any known flood risk. If so, further investigations should be carried out.
How does conveyancing in Haverhill differ for newly converted properties?
Most buyers of new build or newly converted property in Haverhill approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Haverhill typically acquire the real estate, 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 conveyancers 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 Haverhill or who has acted in the same development.
I am looking for a conveyancing lawyer in Haverhill for my house move. Is it possible to see a solicitor's complaints history with the legal regulator?
Anyone can find presented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator may recorded call for training reasons.