I am nearing exchange of contracts for my house in Redcar and Cleveland and the EA has just e-mailed to advise that the buyers are swapping solicitor. The excuse is that the bank will only deal with solicitors on their approved list. On what basis would a major mortgage company only engage with certain law firms rather the firm that they want to select for their conveyancing in Redcar and Cleveland ?
UK lenders have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many 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 monitor. 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. Your buyers are unlikely to have any sway in the decision.
We are acquiring our first house. The lawyer has e-mailedto enquire if we want to take out supplemental conveyancing searches. Unfortunately we are clueless as to what's appropriate for conveyancing in Redcar and Cleveland
The scope of Redcar and Cleveland conveyancing searches should be dictated primarily on the premises, the location, the likelihood of any of these risks, your familiarity of the area and risks, your general appetite to risk. What matters is that you adequately appreciate what information the searches could give you. Then you can decide if you personally think you need that search. If unsure, ask your solicitor to guide you.
We note that you have a post code search directory listing firms on the Kent Reliance conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Redcar and Cleveland?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Redcar and Cleveland.
Last month we had a mortgage agreed in principle with Coventry BS. Redcar and Cleveland conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
There is no definitive answer here. Have Coventry BS done the valuation? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Redcar and Cleveland bank branch on numerous occasions and was told it wasn't a problem and they would lend. My Redcar and Cleveland conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
Your lawyer has to follow the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Planning on purchasing a maisonette in Redcar and Cleveland. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide 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 Redcar and Cleveland solicitor is on the Nationwide conveyancing panel.
What does a local search reveal regarding the house we're purchasing in Redcar and Cleveland?
Redcar and Cleveland conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Searches UK The local search plays an important role in most Redcar and Cleveland conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will supply information on, amongst other things, details on planning applications relevant 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 areas.
My business partner and I are planning to lease a unit on the high street. Can you recommend lawyers offering no-sale-no costs for non-domestic conveyancing in Redcar and Cleveland for less than 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Redcar and Cleveland, including the sale and acquisition of businesses as well as simply property. Whether you are hoping to acquire or lease a shop, pub, restaurant, office, retail premises or a complete business we will find you the right firm. Regarding the charges this will depend on the structure and heads of terms of the deal. Please provide us with your details or email so as to enable us to supply you with a fixed commercial conveyancing calculation.