I am progressing with the sale of my home in Molesey and the EA has just called to advise that the purchasers are changing their property lawyer. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only engage with specific solicitors rather the firm that they want to appoint for their conveyancing in Molesey ?
UK lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some 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 purchasers are not going to have any sway in the decision.
My god-son is purchasing a new build apartment in Molesey with a mortgage from Clydesdale. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My wife and I are planning on selling our property in Molesey and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the buyers used a web based conveyancing firm as opposed to a conveyancing solicitor in Molesey. Having lived in Molesey for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification need.
It would appear that you 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 life insurance to cover that same sickness)
I used Action Conveyancing several years past for my conveyancing in Molesey. Now, I need the files however cannot find the solicitor. What do I do?
You should call 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 Molesey of the conveyancing firm of solicitors you previously used, 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 Molesey differ for new build properties?
Most buyers of new build property in Molesey approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because builders in Molesey tend to buy the land, 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 accustomed to new build conveyancing in Molesey or who has acted in the same development.
I need to instruct a conveyancing solicitor for some conveyancing in Molesey. I've chance upon a site which appears to be the ideal offering If it is possible to get all this stuff done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?