I am selling my maisonette in Martock and the EA has just telephoned to advise that the purchasers are appointing a new conveyancer. The excuse is that the lender will only work with property lawyers on their approved list. On what basis would a major lender only engage with certain lawyers rather the firm that they want to appoint for their conveyancing in Martock ?
Lenders have always had panels of law firms that can act for them, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose 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 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 purchasers are not going to have any impact on this.
I have 70 years left on my lease and require a lease extension for my flat in Martock. Conveyancing solicitors on the Virgin panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 4/11/2024 the requirements read as follows :
I am assisting my aunt sell her property in Martock. Does the conveyancer order the energy assessment or it is for the seller to see to?
After the demise of Home Information Packs, energy assessments was retained a required element of moving property. An energy performance certificate needs to be to hand prior to the property being marketed. This is not something that lawyers normally organise. If you are using a Martock conveyancing practitioner they may be able to arrange energy assessments given their relationships with long established local accredited person
Forgive me if this question is silly but I am new to the house moving as a first time purchaser of a garden flat in Martock. Do I receive the keys to the house on completion from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Martock?
On the day of completion you do not need to attend the conveyancers office in Martock. Your solicitors will arrange to send the completion advance to the seller's lawyers, and once they have received this, you will be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I recently had an offer accepted on a house in Martock. My mortgage broker recommended their conveyancers. I paid an advanced payment of £200. A few days later, the conveyancer called me to say that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have justdiscovered that Action Conveyancing have been shut down. They carried out my conveyancing in Martock for a purchase of a freehold house 12 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Martock conveyancing specialists.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Martock is the location of the property. Can you shed any light on this issue?
Flying freeholds in Martock are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Martock you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Martock may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What does commercial conveyancing in Martock cover?
Martock conveyancing for business premises incorporates a wide range of advice, provided by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.