I am progressing with the sale of my flat in Headley and the EA has just telephoned to warn that the buyers are changing their conveyancer. The excuse is that the mortgage company will only work with property lawyers on their approved list. Why would a major mortgage company only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Headley ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been stiffened 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 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 impact on this.
We're in Headley, First time buyers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Headley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Headley
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared. There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Given that I am about to spend over three hundred thousand on a two bedroom apartment in Headley I would like to have a conversation with the lawyer about myconveyancing prior to appointing the firm. Is this something that you can arrange?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer who will be doing your property ownership legalities in Headley.There is no ‘factory style conveyancing’ - each client is an important individual, not a file number. The practices that we put you in touch with believe that the figure you are quoted for residential conveyancing in Headley should be the figure that you are charged.
I need to instruct a conveyancing practitioner in Headley for my home move. Is it possible to review a firm’s record with the legal regulator?
Members of the public can read presented Solicitor Regulator Association (SRA) determinations resulting from investigations started on or after 1 January 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA could recorded telephone calls for training reasons.
Should I stop my mortgage payments with HSBC as soon as a completion date for my sale in Headley has been agreed?
No, you should maintain paying any mortgage sums to HSBC pending the mortgage being discharged on completion as part of your Headley conveyancing.