I am 3 weeks into the sale of my home in Mawsley and the estate agent has just called to say that the purchasers are swapping solicitor. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only engage with specific solicitors rather the firm that they want to select for their conveyancing in Mawsley ?
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 considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been narrowed 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. Plenty of firms 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 unlikely to have any sway in the decision.
Do the conveyancing solicitors identified via your search tool perform attended exchange conveyancing in Mawsley?
We do have a number of conveyancing specialists carrying out attended exchanges. Do call us to get a costs illustration and details as to dates.
Do lawyers ask for money on account for conveyancing in Mawsley?
Where you are retaining lawyers for conveyancing in Mawsley your solicitor will ask you put them with monies to cover the search fees. Generally this is requested to cover the fees of the Local Authority Search. When the deposit is payable against the purchase price then this will be required immediately ahead of contracts are exchanged. The final balance that is due should be sent to your lawyer a couple of days prior to the completion date.
My grandmother passed away last year and as sole heir and executor I was left the property in Mawsley. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
Where you intend to refinance then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I have todaybeen informed that Action Conveyancing have closed. They conducted my conveyancing in Mawsley for a purchase of a freehold house 18 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The easiest way to see if the premises is in your name, you can make 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 Mawsley conveyancing specialists.
I am buying a ground floor apartment in Mawsley. Conveyancing lawyer has been waiting for, from the vendor, building insurance schedule. I was told today I was informed that the owner must send the insurance documents for the flat above as well. Why would my conveyancer want to check the insurance for the other flat? Is it really necessary? We have been in hold for the previous fortnight…
It is not unheard of in leasehold conveyancing in Mawsley to discover Conveyancing in Mawsley in a minority of cases reveals that the lease obliges the tenant's to insure their individual flats rather than the landlord insuring the entire property - which is definitely better. Do contact your property lawyer but it would appear that your conveyancer is looking to establish that the entire building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated as a result of lack of insurance.