Unfortunately I am unable to travel far from Mottingham. Please spell out why all Mottingham conveyancers are not on all mortgage company panels?
Pre- 2008 most banks exhibited an attitude to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, lenders have since looked to extract more information from law firms about their processes and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum amount of transactions the mortgage companies insisted on.
As someone unfamiliar with conveyancing in Mottingham what’s the number one tip you can give me for the ownership transfer in Mottingham
You may not hear this from too many lawyers but conveyancing in Mottingham and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for friction between you and others involved in the legal transfer of property. For instance, the vendor, selling agent and even potentially a bank. Choosing a law firm for your conveyancing in Mottingham an important selection as your conveyancer is your adviser, and is the SOLE person in the legal process whose role it is to act in your best interests and to protect you.
Every so often a third party with a vested interest may try and convince you that you should follow their advice. As an example, the selling agent may claim to be assisting by suggesting your lawyer is wrong. Or your mortgage broker may try to convince you to do take action that is contrary to your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
We wanted to use a conveyancing solicitor in Mottingham for our house purchase. Our broker has since notified us that our bank Alliance & Leicester won't deal with them. Surely this is unduly restrictive?
Mortgage Companies tend to imposes restrictions either the category or the volume of conveyancing practices on their member panel. Typical examples of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, a few banks have reduced the amount of solicitor practices they use to represent them. Be aware that Alliance & Leicester have no responsibility for the quality of advice provided by any member of Alliance & Leicester Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there are differing opinions regarding the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that plenty of law firms, including some in or near Mottingham only carry out a couple conveyances a year.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Mottingham is the location of the property. Can you offer any guidance?
Flying freeholds in Mottingham are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mottingham you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mottingham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Is it simple use your search tool to locate a conveyancing practitioner in Mottingham on the panel for my lender?
Step one is to choose a bank such as HSBC Bank, Barnsley Building Society or Nottingham Building Society then type in your location for example Mottingham. Conveyancing organisations in Mottingham and nationally will then be listed.
My husband and I are new on the property ladder - agreed a price, but the property agent advised that the seller will only issue a contract if we use the agent's chosen solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a local conveyancer who is familiar with conveyancing in Mottingham
We suspect that the seller is not behind this requirement. Should the owner desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Try to communicate with the vendors directly and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to use your own,trusted Mottingham conveyancing solicitors - as opposed tothe ones that will provide the negotiator at the agency a kickback or achieve conveyancing figures set by senior management.