I am nearing exchange of contracts for my home in Marston Moretaine and the estate agent has just called to say that the buyers are switching solicitor. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Marston Moretaine ?
UK lenders have always had panels of law firms that can represent them, but in the past 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 many years.
Banks attribute this action to a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some 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 sway in the decision.
We are close to exchanging contracts on the sale of our property in Marston Moretaine and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Marston Moretaine lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed an internet conveyancing outfit as opposed to a conveyancing solicitor in Marston Moretaine. We have lived in Marston Moretaine for many years we know of no issue. Should we contact our local Authority to seek clarification need.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I used Wolstenholmes several years past for my conveyancing in Marston Moretaine. I now require my papers but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Marston Moretaine of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Marston Moretaine differ for new build properties?
Most buyers of new build property in Marston Moretaine come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Marston Moretaine usually acquire 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 conveyancing solicitors 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 used to new build conveyancing in Marston Moretaine or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Marston Moretaine I like with a park and transport links in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Marston Moretaine in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
How easy is it to change a solicitor as I need to find a Marston Moretaine based one who is on the mortgage company conveyancing panel. Is it advisable to appoint a new law firm?
In the event that you have not formally appointed a solicitor to do anything for you and at this stage simply received quotes, 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 Marston Moretaine that you're considering.