I am progressing with the sale of my home in Liphook and the EA has just telephoned to warn that the purchasers are switching conveyancer. I am told that this is due to the fact that the lender will only work with property lawyers on their approved list. Why would a leading lender only deal with specific solicitors rather the firm that they want to select for their conveyancing in Liphook ?
Banks have always had an approved set of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some 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 buyers are not going to have any sway in the decision.
Would the conveyancing solicitors to be found on your site carry out auction conveyancing in Liphook?
We know of a number of niche lawyers we can connect you with those specialising in auction conveyancing. Liphook is just one of the many locations where our lawyers have offices.
Can you explain why leasehold purchase conveyancing in Liphook costs more?
Liphook leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My brother-in-law has suggested I instruct a conveyancing solicitor in Liphook. I I am struggling to find out if they are on the Alliance & Leicester conveyancing panel. Can you advise?
The first thing to do is contact your conveyancer and enquire whether they can act for the bank. Alternatively please get in touch with Alliance & Leicester who may be able to confirm.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Liphook I like with open areas and transport links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Liphook for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
Given that I will soon part with £400,000 on a property in Liphook I would like to have a conversation with the conveyancer regarding thehouse move ahead of giving the go ahead to the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be carrying out your property ownership legalities in Liphook.There is no ‘factory style conveyancing’ - every client is an important person, not a file number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Liphook should be the figure that you are charged.