I am selling my apartment in New Rossington and the estate agent has just e-mailed to say that the buyers are swapping solicitor. The excuse is that the lender will only work with property lawyers on their approved list. Why would a major lender only work with certain lawyers rather the firm that they want to appoint to handle their conveyancing in New Rossington ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been stiffened 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 hearing daily from firms 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 unlikely to have any impact on this.
Our New Rossington lawyer has spotted a discrepancy between the assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer has advised that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
My wife and I are buying a flat in New Rossington. I might seem paranoid but how we can trust a solicitor? At some point we have to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously appointed solicitors with offices in New Rossington on the HSBC solicitor approved list. They have just billed me an additional fee for handling the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
Provided it is contained in their Terms of Engagement or Quote then yes your property lawyer is entitled to levy a fee for this. The fee is not set by HSBC but by your New Rossington solicitor. Plenty of firms on the HSBC panel will levy ’dealing with mortgage’ fee but some firms include it on their overall fee.
About to purchase flat in New Rossington. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the New Rossington conveyancing practitioner is on the Aldermore conveyancing panel.
I am selling our home in New Rossington and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the purchasers instructed an internet conveyancing practice rather than a conveyancing solicitor in New Rossington. Having lived in New Rossington for three years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification need.
It would appear that you have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I have todayfound out that Action Conveyancing have closed. They carried out my conveyancing in New Rossington for a purchase of a leasehold apartment 18 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Rossington conveyancing specialists.
We have been informed by numerous estate agents to expect up to two months for New Rossington conveyancing to complete.This was 3 ago. The draft contract was only forwarded from the vendors conveyancer a few days ago so now does it countdown?
No official countdown exists for conveyancing in New Rossington, or any area in the UK. You simply have to make sure your finances are in order and wait for the rest to come to you eventually.