I am in the process of selling my home in Morden Park and the estate agent has just text me to advise that the buyers are appointing a new law firm. The reason given is that the mortgage company will only work with property lawyers on their approved list. On what basis would a major lender only engage with specific solicitors rather the firm that they want to choose for their conveyancing in Morden Park ?
Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. 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 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. The purchasers are unlikely to have any impact on this.
As someone clueless as to conveyancing in Morden Park what’s the number one tip you can impart for the ownership transfer in Morden Park
Not many law firms shout this from the rooftops but conveyancing in Morden Park or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of room for conflict between you and others involved in the ownership transfer. For instance, the seller, estate agent and even potentially the lender. Appointing a solicitor for your conveyancing in Morden Park should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the legal process whose role it is to look after your legal interests and to keep you safe.
Every so often a potential adversary may attempt to sway you that you should follow their advice. For instance, the estate agent may claim to be assisting by suggesting your solicitor is wrong. Or your financial adviser may try to convince you to do take action that is against your lawyers advice. You should always trust your lawyer above all other parties in the home moving process.
I am the only beneficiary of my late grandmother’s will and I have everything in my name now, including the house in Morden Park. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the house in May. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. many lenders would take a sensible view as this provision is chiefly there to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
I am currently in the process of buying my council flat in Morden Park. I have a mortgage offer with Coventry BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
Completion of my remortgage has taken place for my property in Morden Park. 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?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Due to the encouragement of my in-laws I had a survey completed on a property in Morden Park prior to appointing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies tend refuse to issue a loan on this type of home.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Morden Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Morden Park to see if the conveyancing will be more expensive.
How straightforward is it to use your search facility to select a conveyancing lawyer in Morden Park on the authorised to act for my bank?
First select a lender such as Accord Mortgages Ltd, Norwich and Peterborough Building Society or TSB then specify your preferred area a common one being Morden Park. Conveyancing organisations in Morden Park and across England and Wales should be shown.
I am purchasing a ground floor apartment in Morden Park. Conveyancing lawyer has been waiting for, from the seller, building insurance schedule. This afternoon I was advised that the seller needs to send the insurance schedule for the flat above in addition. Why does my property lawyer want to review the insurance for the other flat? Is it strictly necessary? We have been in hold for the previous 2 weeks…
It is not impossible in leasehold conveyancing in Morden Park to find Conveyancing in Morden Park in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats rather than the landlord insuring the whole premises - which is definitely better. Do clarify with your conveyancer but it would seem that your property lawyer is attempting to establish that the complete building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated due to lack of insurance cover.