I am progressing with the sale of my flat in Holton le Clay and the EA has just e-mailed to say that the buyers are switching conveyancer. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. On what basis would a big named lender only deal with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Holton le Clay ?
Lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase 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 says it is being contacted daily by practices 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. Your buyers are unlikely to have any impact on this.
Our son-in-law is purchasing a newly built flat in Holton le Clay with a mortgage from Coventry BS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can I use your services to find a Conveyancing solicitor in Holton le Clay even if I’m not buying or selling a house, for instance where I intend to acquire a shop in Holton le Clay with a mortgage from Bank of Ireland?
Our comparison service is primarily used to locate domestic conveyancing solicitors in Holton le Clay but we have listed at the bottom of this page a selection of Holton le Clay commercial conveyancing firms. You should speak with the solicitors directly to see if they can also act for Bank of Ireland
Have purchased a a terraced house in Holton le Clay , how long should it take for the Land Registry to deal with the formalities evidencing my title? My Holton le Clay conveyancing solicitor works at snail pace, so I want to be certain that my purchase is recorded.
As far as conveyancing in Holton le Clay registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can adjust according to the party submitting the application, whether it is in order and if the Land registry communicate with any other parties. Currently in the region of 80% of such applications are fully dealt with within 12 days but occasionally there can be protracted hold-ups. Historically registration is effected after the purchaser is living at the property thus registration formalities is not typically an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer should speak with the land registry and explain the circumstances.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Holton le Clay I like with amenity areas and station nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Holton le Clay in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I cannot be present at my Holton le Clay conveyancing solicitors office to sign documents connected to my conveyancing in Holton le Clay – is this a problem?
You need not be concerned. Holton le Clay conveyancing lawyers can handle conveyancing transactions for clients wider afield. It is not necessary for you to be able to visit a Holton le Clay conveyancers office. They can undertake everything via post, email, telephone and fax.