I am nearing exchange of contracts for my house in Long Hanborough and the EA has just e-mailed to advise that the buyers are swapping law firm. The excuse is that the lender will only engage with property lawyers on their approved list. Why would a leading lender only work with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Long Hanborough ?
Banks have always had an approved set of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud by way of justification for the reduction – 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 claims that it is being contacted daily by practices 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. Your purchasers are not going to have any impact on this.
I am buying a house and need a conveyancing solicitor in Long Hanborough who is on the Yorkshire Building Society conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Yorkshire Building Society in certain locations such as Long Hanborough. We dont recommend any particular firm.
It has been five months since my purchase conveyancing in Long Hanborough took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a house in Long Hanborough before appointing solicitors. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend refuse to give a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions from Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Long Hanborough. Conveyancing will be smoother if you use a solicitor in Long Hanborough especially if they are acquainted with such properties in Long Hanborough.
Is it best to use a Long Hanborough conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can deal with the legal formalities but they are based over three hundred kilometers away.
The primary upside of using a high street Long Hanborough conveyancing practice is that you can attend the office to execute documents, deliver your identification documents and pester them if necessary. They will also have local intelligence which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were content that must outweigh using an unknown Long Hanborough conveyancing lawyer solely due to them being based in the area.
I need to change lawyers as my Long Hanborough lawyer is not on the bank's panel of conveyancing solicitors. Is it practical to instruct different lawyers?
In the event that you have not formally instructed a conveyancer to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Long Hanborough that you're thinking of instructing.