I am six weeks into the sale of my house in Merton and the estate agent has just e-mailed to advise that the buyers are swapping solicitor. The reason given is that the bank will only engage with property lawyers on their approved list. Why would a big named mortgage company only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Merton ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened 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 says 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. Your purchasers are not going to have any sway in the decision.
We were just about to exchange contracts for a ground floor flat in Merton. We have hit a problem. Our mortgage offer with Chelsea Building Society expires on 10/8/2026 but the owners are suggesting a completion date of 12/8/2026. Can one extend the loan offer?
The best person to deal with your concern is your lawyer who is in a position to determine whether they should be discussing with the mortgage company, seller’s conveyancers, selling agents or possibly all three given the history of your conveyancing to date.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Merton. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
If you intend to re-mortgage then Nottingham will insist on your using a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
I am close to exchanging contracts on the sale of our home in Merton and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used an internet conveyancing outfit as opposed to a conveyancing solicitor in Merton. We have lived in Merton for many years we know that this is a non issue. Do we get in touch with our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to 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 health insurance to cover that same ailment)
Should I be concerned by brokers that I am dealing with are encouraging me to use a web based conveyancing firm rather than a local Merton conveyancing company?
As is the case with many professional services, often input from relatives can be worth their weight in gold. Nevertheless there are numerous players in a conveyancing matter; estate agents, mortgage brokers and banks may suggest lawyers to select. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You have the right to select your own lawyer. Don't forget that many mortgage providers have an approved list of conveyancers you have to use for the lender related work in your transaction.
Am I best advised to use a Merton conveyancing lawyer in close proximity to the house I am hoping to buy? We have a good friend who can carry out the legal formalities however they are based a couple of hundredkilometers drive away.
The benefit of a high street Merton conveyancing firm is that you can attend the office to execute paperwork, hand in your identification documents and pester them where appropriate. They will also have local knowledge which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were impressed that must trump using an unfamiliar Merton conveyancing lawyer solely due to them being based in the area.