I am progressing with the sale of my flat in Lampeter and the EA has just called to warn that the purchasers are appointing a new law firm. The excuse is that the mortgage company will only engage with property lawyers on their approved list. Why would a big named mortgage company only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Lampeter ?
UK lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say 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 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. The buyers are not going to have any impact on this.
Can the conveyancing lawyers via your comparison service carry out conveyancing in Lampeter by way of an attended exchange?
We do have a number of conveyancing experts who can conduct attended exchanges. You should contact us to secure a fee calculation and details as to availability.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when buying a property in Lampeter?
Unless a previous acquisition of the property took place post 12 October 2013 you may expect solicitors conducting conveyancing in Lampeter to remain encouraging a chancel search and or chancel repair liability insurance.
I bought my house on 16 January and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Lampeter said it will be dealt with in a couple of weeks. Are transfers in Lampeter particularly slow to register?
As far as conveyancing in Lampeter registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can vary depending on the party submitting the application, whether it is in order and if the Land registry communicate with any other parties. Currently approximately three quarters of submission are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Registration takes place after the purchaser is living at the premises so an expedited registration is not typically top priority but where 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.
I opted to have a survey completed on a property in Lampeter ahead of retaining lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may refuse to issue a mortgage on this type of premises.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you contact us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lampeter. Conveyancing may be slightly more expensive based on your lender's requirements.
My brother-in-law has suggested I instruct a conveyancing solicitor in Lampeter. I need to find out if they are listed on the lender's approved list of lawyers. Could you help?
You should call your lawyer to enquire if they are on the lender's panel. If that does not help get in touch with us and we can make some checks for you. Should the firm not be on the bank panel we can certainly arrange a specialist conveyancing solicitor in Lampeter on the approved list for your mortgage company.