I am progressing with the sale of my apartment in Ripon and the estate agent has just text me to say that the purchasers are appointing a new solicitor. The reason given is that the lender will only deal with property lawyers on their approved list. Why would a big named lender only work with specific law firms rather the firm that they want to choose for their conveyancing in Ripon ?
UK lenders have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders blame a rise in fraud by way of justification for the cull – 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 says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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. The buyers are unlikely to have any sway in the decision.
We were just about to exchange contracts for a ground floor flat in Ripon. We have hit a problem. The mortgage offer with The Mortgage Works runs out on 1/12/2025 but the vendors are suggesting a completion date of 3/12/2025. Is it possible to extend the mortgage expiry date?
The best person to deal with your issue is your lawyer who is in a position to determine whether he or she is better off negotiating with the mortgage company, owner’s lawyers, property agents or indeed all parties based on the history of your conveyancing as of today.
My home in Ripon is up for sale and I have accepted an offer. Does the solicitor need to be on the Aldermore conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
Various online forums that I have visited warn that are the main cause of obstruction in Ripon conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Ripon.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Ripon is where the house is located. What do you suggest?
Flying freeholds in Ripon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ripon you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ripon may determine 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.
I am using a search engine for the term on line conveyancing in Ripon it brings up numerous property lawyersin the vicinity. How do I determine which is the right solicitor for my move?
The preferential method of finding a suitable conveyancer is via personal referral, so ask colleagues and those you trust who have bought a property in Ripon or a reputable estate agent or financial adviser. Costs for conveyancing in Ripon vary, so it's a good idea to request a minimum of four fee calculations from different law firms. Make sure that you know that the charges are assured not to to be inflated.