I am in the process of selling my ground floor flat in Neston and the estate agent has just text me to warn that the purchasers are changing their law firm. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their approved list. Why would a leading lender only work with certain lawyers rather the firm that they want to choose for their conveyancing in Neston ?
Lenders have always had panels 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 represented them for many years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to disclose 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. The buyers are not going to have any impact on this.
My wife and I are soon to exchange on the purchase of a property in Neston but as a consequence of wreckage from the recent storms I have was able negotiate recompense from the owner in the sum of three thousand pounds in the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet Aldermore are not allowing this. Why were they notified?
The conveyancer being on the Aldermore approved list is required to disclose to Aldermore of any amendments to the sale price. If you prohibit your solicitor to report the price change to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new lawyer for your conveyancing in Neston.
Can your site be used to find a Conveyancing solicitor in Neston even where I’m not buying or disposing of a house, for example where I intend to buy a shop in Neston with a mortgage from The Royal Bank of Scotland?
Our search tool is primarily utilised to find domestic conveyancing solicitors in Neston but we have listed at the end of this page some Neston commercial conveyancing firms. You will need to enquire with the firm directly to establish if they are also authorised to represent The Royal Bank of Scotland
My home in Neston is up for sale and I have accepted an offer. Does my lawyer have to be required to be on the Principality conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
My wife and I have a 4 bedroom Georgian house in Neston. Conveyancing solicitor acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Neston and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing practitioner who conducted the conveyancing.
How and when do I incur stamp duty due for my purchase in Neston?
Your conveyancing practitioner should fill out a Land Transaction Return Form on your behalf during your Neston conveyancing transaction for you to sign. After completion your conveyancer will submit the Land Transaction Return Form to the Inland Revenue and - assuming they have the money - settle any Stamp Duty due on your behalf.