I am in the process of selling my home in Petersham and the EA has just telephoned to say that the buyers are switching law firm. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. Why would a leading mortgage company only deal with specific law firms rather the firm that they want to select for their conveyancing in Petersham ?
UK lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal 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 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 unlikely to have any impact on this.
What does a local search tell me about the property I am purchasing in Petersham?
Petersham conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Onsearch The local search is essential in every Petersham conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
My wife and I have a semi-detached Edwardian property in Petersham. Conveyancing solicitor acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Petersham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who completed the work.
How does conveyancing in Petersham differ for newly converted properties?
Most buyers of new build residence in Petersham come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Petersham usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Petersham or who has acted in the same development.
I am looking for a conveyancing solicitor in Petersham for my home move. Can I review a firm’s record with the profession’s regulator?
Anyone may search for published Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.
I am planning to acquire a house and need a conveyancing solicitor in Petersham who is on the lender conveyancing panel. Could you point me in the right direction as regards a Petersham conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who do conveyancing in Petersham. We dont recommend any particular solicitor.