I am one month into the sale of my house in Much Wenlock and the EA has just text me to advise that the purchasers are changing their law firm. The excuse is that the bank will only engage with solicitors on their conveyancing panel. Why would a major lender only work with specific law firms rather the firm that they want to select for their conveyancing in Much Wenlock ?
UK lenders have always had panels 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 narrowed as a smaller panel is easier to monitor. 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. Plenty of firms 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 unlikely to have any impact on this.
My brother-in-law has suggested I instruct a conveyancing solicitor in Much Wenlock. I I am struggling to find out if they are accepted on the Birmingham Midshires approved list of lawyers. Could you help?
You should contact the solicitor and ask them if they can act for the bank. Alternatively please call Birmingham Midshires who may be able to assist.
I am aiming to move home in September. Will my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you suggest a removal company in Much Wenlock. Conveyancing firm was chosen before I stumbled across this page.
On the day of completion you can pick up the house keys from the selling agent however this can only take place when the sellers lawyers advise the agent that they have the completion monies and the keys can be given over. You will need to inform the removal company that they can start moving you in. We do not suggest a particular removal company but can help you locate a residential property solicitor in Much Wenlock or a firm that specialises in conveyancing in Much Wenlock.
We were going to get a OIP from RBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Much Wenlock solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Much Wenlock solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I recently had an offer accepted on a house in Much Wenlock. My financial adviser recommended their conveyancers. I paid an on account payment of £175. Not long after, the conveyancing practitioner contacted me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been on the look out for a flat up to £305k and found one near me in Much Wenlock I like with open areas and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Much Wenlock in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
My uncle has suggested that I instruct his lawyers for conveyancing in Much Wenlock. Should I use them?
There are no two ways about it it’s preferable to select a conveyancing practitioner is to get recommendations from friends or relatives who have experience in using the solicitor that you are are thinking of instructing.
Is there a difference between surveying and conveyancing in Much Wenlock?
Conveyancing - in Much Wenlock or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the vendor to remedy the defects prior to you move in.