I am not in a position to travel far from Romsey. I would like to know the understand why all Romsey conveyancing practitioners are not on all mortgage company panels?
Mortgage companies highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies purging less reputable firms off their books of approved property lawyers .
Can you explain why leasehold purchase conveyancing in Romsey costs more?
Romsey leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I have 71 years left on my lease and require a lease extension for my apartment in Romsey. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/4/2025 the requirements read as follows :
Will commercial conveyancing searches disclose impending roadworks that could impact a commercial land in Romsey?
Many commercial conveyancing solicitors in Romsey will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Romsey. 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 Romsey.
For every commercial conveyancing transaction in Romsey it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Romsey commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Romsey.
Me and my brother have a renovated Edwardian house in Romsey. Conveyancing lawyer represented me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the matching address. Is it worth asking Platform Home Loans Ltd to clarify?
You need to assess the Freehold register you have again and check the Charges Register for 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 Romsey and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing practitioner who conducted the purchase.
My nephew is just in the process of moving house, he had his mortgage in principle. One the offer was accepted on house we called the bank to go forward with his. I was very surprised to hear that mortgage companies do not accept all conveyancing practitioner, they have to be on a list, is this correct?
Mortgage Companies ordinarily imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Romsey conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.