I am in the process of selling my house in Irlam and the EA has just e-mailed to warn that the buyers are appointing a new solicitor. The excuse is that the lender will only engage with solicitors on their approved list. On what basis would a big named mortgage company only deal with specific lawyers rather the firm that they want to select to handle their conveyancing in Irlam ?
Banks have always had panels of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders blame a rise 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 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 unlikely to have any sway in the decision.
IfI were to acquire a freehold housein Irlam mortgage fee and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Irlam?
The only saving you would achieve is the Irlam conveyancing searches. The conveyancing practitioner is required to do the vast majority of work - money laundering, liaising with your vendors property lawyer, stamp duty return, register the property etc. You might save a bit for them not having to register a mortgage however it won't be significant.
I just acquired a property at auction in Irlam. Conveyancing is needed. What happens now?
Given that you are now exchanged you will need to retain a conveyancing solicitor as a matter of priority as you will have a pending a fixed date to complete the property. An auction property will have a bespoke auction set of papers. This will likely include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You need to hand this to the lawyer instructed by you at the earliest opportunity. Do make sure that your finances are in place to complete the transaction on the set completion date.
I have paid off my mortgage with TSB. I assume I don't need a Irlam conveyancing practitioner on the TSB panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Irlam. I have a mortgage agreed with Nottingham. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I have been told that property searches are the main reason for obstruction in Irlam house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Irlam.
The deeds to our house can not be found. The solicitors who conducted the conveyancing in Irlam 5 years ago have long since closed. What are my options?
As long as the title is registered the information relating to your ownership will be documented by the Land Registry with a Title Number. It is easy to carry out a search at the Land Registry, identify your property and order up to date copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
My wife and I are buying a ground floor flat in Irlam. At the point of instructing our solicitor, we were told they were on all major UK bank panels. Our financial adviser contacted us just now to say that they don't appear to be on the Barclays approved list. Should that be true, what should we do? Should we just choose a new property lawyer that is on their approved list or do we pay for separate representation, with Barclays selecting their own preferred solicitor.
Where you are acquiring a property requiring a mortgage it is standard for the buyer’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a property lawyer has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancing practitioner has to meet. Some building societies now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancing practitioner should call Barclays to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Barclays's conveyancing panel as you are at liberty to use your preferred Irlam lawyers, in which case it will likely add costs, and it may delay matters as you are adding another conveyancing practitioner into the equation.