I am progressing with the sale of my flat in Irchester and the EA has just telephoned to say that the buyers are appointing a new solicitor. The excuse is that the mortgage company will only deal with solicitors on their approved list. Why would a major lender only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Irchester ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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. The purchasers are not going to have any impact on this.
My wife and I are about to complete buying a property in Irchester but as a consequence of damage from the recent storms I have was able negotiate recompense from the seller in the sum of £3k taking the form of a reduction in the price. This was going to be dealt with as part of a side agreement yet Leeds Building Society are not allowing this. Should they have been involved?
Any conveyancing practitioner that is on the Leeds Building Society conveyancing panel is duty bound to disclose to Leeds Building Society of any variations to the purchase price. If you were to refuse your property lawyer to report the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new lawyer for your conveyancing in Irchester.
The Irchester conveyancing solicitors that I recently instructed on my purchase in Irchester have suddenly closed. I only went with them because I needed a lawyer on the Virgin Money conveyancing panel and my previous Irchester lawyer was not. I cut them a cheque for two hundred pounds in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
I used Action Conveyancing several years past for my conveyancing in Irchester. I now require my papers however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Irchester of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Just had an offer accepted on a new build apartment in Irchester. Conveyancing is daunting 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.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Irchester
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Due to the input of my in-laws I had a survey completed on a house in Irchester before appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some banks tend not issue a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Irchester. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Irchester to see if the conveyancing costs will increase in light of this.