I am selling my home in Lytham and the estate agent has just telephoned to say that the buyers are changing their law firm. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only deal with certain law firms rather the firm that they want to select for their conveyancing in Lytham ?
Banks have always had panels of law firms that can represent them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened 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 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 buyers are not going to have any impact on this.
We are buying a house and need a conveyancing solicitor in Lytham who is on the Co-operative solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Co-operative . We don't recommend any particular firms conducting conveyancing in Lytham.
We are getting a further advance on our mortgage from Nottingham as we intend to conduct renovations to our house in Lytham. Are we obliged to choose a nearby Lytham solicitor on the Nottingham conveyancing panel to handle the paperwork?
Nottingham do not ordinarily instruct a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham panel.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Lytham conveyancer on the Aldermore panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore 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 Aldermore mortgage from the register. Aldermore, 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 Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I currently have a mortgage with RBS for my property in Lytham. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
You must advise RBS in advance of letting out your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. It should not be necessary to do this via a RBS conveyancing panel solicitor.
How does conveyancing in Lytham differ for new build properties?
Most buyers of new build or newly converted property in Lytham contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because developers in Lytham typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lytham or who has acted in the same development.
What makes your site different to other web based conveyancing brokers when it comes to conveyancing in Lytham?
At this site get an accurate quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Lytham. Unlike many estate agents and many comparison sites we do not have referral deals with solicitors. Many agents and online brokers 'recommend' solicitors that pays the highest per referral, as opposed to the best value conveyancing in Lytham
I have just started marketing my 2 bed apartment in Lytham. Conveyancing solicitors are to be appointed soon, but I have just received a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal as all rents and service invoices will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Lytham Leasehold Conveyancing - Sample of Questions you should ask before buying
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How is the lease structured? In the main the outlay for major works are not incorporated into the service charges, although a few managing agents in Lytham ask tenants to pay into a reserve fund created for the specific purpose of building a fund for larger repairs or maintenance. It is important to be aware whether redecorating or some other major work is coming up that will be shared between the tenants and will materially increase the the maintenance costs or result in a specific payment.