I am in the process of selling my apartment in Midhurst and the estate agent has just called to warn that the buyers are appointing a new law firm. The reason given is that the bank will only deal with property lawyers on their approved list. On what basis would a big named lender only deal with certain lawyers rather the firm that they want to choose for their conveyancing in Midhurst ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders justify 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 being contacted daily by practices that have been removed from panels. Plenty of firms 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 unlikely to have any impact on this.
It is a dozen years since I purchased my property in Midhurst. Conveyancing lawyers have now been instructed on the sale but I can't find the title deeds. Is this a major issue?
Don’t worry too much. First the deeds may be with the lender or they may stored with the lawyers who oversaw the purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Midhurst involves registered property but in the unlikely event that your home is not registered it is more problematic but is not insurmountable.
My partner and I are in the process of looking at flats in Midhurst and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a home loan with Coventry BS.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are seeking a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
I have paid off my mortgage with Principality. I assume I don't need a Midhurst property lawyer on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Completion of my remortgage has taken place for my property in Midhurst. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
What can a local search inform me regarding the property my wife and I buying in Midhurst?
Midhurst conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search is essential in every Midhurst conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Is it simple use the search facility to get a fee calculation from a conveyancing lawyer in Midhurst on the panel for my mortgage?
First pick a mortgage company such as Yorkshire Building Society, Barnsley Building Society or Britannia then type in your preferred area for example Midhurst. Conveyancing firms in Midhurst and further afield should be listed.
My conveyancing in Midhurst is set to complete on Friday, yet the sellers I am purchasing off wants to move out 24 hours later at at 2pm. Do I agree to this?
In situations where you require a loan then your conveyancing practitioner will insist that the premises arevacant on Friday - the bank will demand it.