I am progressing with the sale of my apartment in Parsons Green and the EA has just telephoned to say that the purchasers are appointing a new solicitor. The excuse is that the mortgage company will only work with solicitors on their approved list. On what basis would a major mortgage company only work with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Parsons Green ?
Mortgage companies have always had panels of law firms they are willing to work with, 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 represented them for decades.
Banks point to the increase in fraud as the reason for the reduction – 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 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 unlikely to have any impact on this.
It is is a decade since I purchased my house in Parsons Green. Conveyancing lawyers have just been retained on the sale but I can't locate my title deeds. Is this a major issue?
You need not be too concerned. First the deeds may be retained by your lender or they could be in the possession of the conveyancers who oversaw your purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining current official copies of the land registers. Nearly all conveyancing in Parsons Green involves registered property but in the rare situation where your property is unregistered it is more problematic but is not insurmountable.
Are there restrictive covenants that are commonly picked up during conveyancing in Parsons Green?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Parsons Green. 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…’
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Parsons Green is the location of the property. Is there any guidance you can give?
Flying freeholds in Parsons Green are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Parsons Green you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Parsons Green may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What makes your site different to alternative internet conveyancing brokers for conveyancing in Parsons Green?
At this site secure an accurate quote via a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Parsons Green. As opposed to estate agents and brokerage sites we are not in the business of charging firms a commission if you choose them for your conveyancing in Parsons Green
I need to instruct a conveyancing solicitor for remortgage conveyancing in Parsons Green. I happened to discover a web site which appears to be the ideal solution If it is possible to get all formalities done via web that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?