I am in the process of selling my apartment in Lutterworth and the EA has just e-mailed to warn that the purchasers are swapping property lawyer. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a major lender only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Lutterworth ?
UK lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies justify this action to a rise in fraud as the reason for the cull – criteria have been tightened 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. Your purchasers are unlikely to have any impact on this.
It is 10 years ago since I purchased my property in Lutterworth. Conveyancing solicitors have now been retained on the sale but I am unable to find my title deeds. Is this a major issue?
Don’t worry too much. Firstly there is a chance that the deeds will be with your mortgage company or they may stored with the lawyers who handled the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in Lutterworth involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would much rather appoint a high street conveyancing solicitor in Lutterworth?
Do check but the the likelihood is that give you one of their panel conveyancers should you want the "fee-free" offer. Contact the bank and see if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Lutterworth.
Will commercial conveyancing searches reveal proposed roadworks that may impact a commercial land in Lutterworth?
Its becoming the norm that commercial conveyancing solicitors in Lutterworth will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Lutterworth. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Lutterworth.
For every commercial conveyancing transaction in Lutterworth it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Lutterworth commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Lutterworth.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Lutterworth. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Lutterworth
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants.
My cousin has suggested that I instruct his lawyers for conveyancing in Lutterworth. Should I use them?
Much as we are happy to recommend a Lutterworth conveyancing lawyer it’s preferable to choose a conveyancing solicitor is to get guidance from friends or family who have previously instructed the conveyancer that you are contemplating using.