I am selling my ground floor flat in New Addington and the EA has just telephoned to warn that the purchasers are switching solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. On what basis would a leading lender only work with certain lawyers rather the firm that they want to appoint for their conveyancing in New Addington ?
UK lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders attribute this action to a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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. Your purchasers are not going to have any impact on this.
Is there a reason why leasehold purchase conveyancing in New Addington costs more?
New Addington leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in New Addington so that I can pop in to their offices if necessary.
As opposed to 15 years ago, almost all mortgage companies no longer require their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to provide ID documents and there are still distinct advantages to instructing a local ayer, in your case a conveyancing solicitor in New Addington.
I decided to have a survey completed on a property in New Addington before instructing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some banks may refuse to grant a mortgage on this type of home.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via 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 New Addington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Addington to see if the conveyancing costs will increase in light of this.
I am thinking of appointing a conveyancing practitioner in New Addington for my house move. Is there any facility to see a solicitor's record with the legal regulator?
Members of the public may review documented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
I see that you have a search directory identifying law firms on the mortgage company conveyancing panel. Do New Addington conveyancing firms pay you a commission if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in New Addington.