I am nearing exchange of contracts for my apartment in Oswestry and the EA has just e-mailed to say that the buyers are changing their law firm. The excuse is that the lender will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only engage with specific law firms rather the firm that they want to choose to handle their conveyancing in Oswestry ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. 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 not going to have any impact on this.
Me and my partner are buying a flat in Oswestry. I might seem paranoid but how we can trust a lawyer? At some point we will need to send our life savings into their account. What is the protection 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.
I happen to be the sole recipient of my late father’s estate and I have everything in my name alone, including the my former home in Oswestry. The Oswestry property was put into my name in August. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be considered the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many banks would take a sensible view as this clause is principally there to capture subsales or the quick reselling of property.
My sealed bid on a property in Oswestry has been agreed to, but there is a chain. The vendors have put an offer on on an apartment, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have chosen a nearby conveyancing solicitor in Oswestry. What do I do now? When should I get the mortgage application with Leeds Building Society started?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then valuation, Oswestry conveyancing search charges, etc). First, you must ensure that your property lawyer is on the Leeds Building Society conveyancing panel. Regarding the next steps this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. During a buoyant market some home buyers will apply for a home loan with Leeds Building Society and arrange for the valuation and only if it comes back ok would they pay their conveyancer to press on with the conveyancing in Oswestry.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial estate in Oswestry?
Many commercial conveyancing solicitors in Oswestry will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Oswestry. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Oswestry.
For every commercial conveyancing transaction in Oswestry it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Oswestry commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Oswestry.
Are there restrictive covenants that are commonly identified as part of conveyancing in Oswestry?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Oswestry. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it possible to change firm as I need to retain a firm on the Clydesdale conveyancing list. I was using a family conveyancing solicitor in Oswestry five minutes from me but he is not approved by Clydesdale
We will our best to assist in finding you a conveyancing solicitor in Oswestry on the Clydesdale panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Oswestry. Using search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Oswestry.
My husband and I are 3 weeks into a residential purchase having been recommend to solicitors by the estate agent to perform conveyancing in Oswestry. I am am extremely disappointed with the level of service. Could you you assist me in finding new conveyancers?
They would have to be very bad in order to consider changing them. Has the loan offer been sent? In the event that it has you must make them aware of the replacement conveyancer and ensure the offer are re-sent. Your solicitor ideally should be on the mortgage company approved list to avoid escalating expenses and complications. That should be your first question of the new lawyers. The search tool can help you find a lender approved lawyer for your conveyancing in Oswestry