I am in the process of selling my house in Sacriston and the EA has just e-mailed to advise that the buyers are changing their property lawyer. The reason given is that the lender will only engage with solicitors on their approved list. Why would a big named lender only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Sacriston ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud as the reason 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 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 purchasers are not going to have any sway in the decision.
My nephew is about to exchange on a newly built flat in Sacriston with a mortgage from Coventry BS. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Completed the sale of my flat in Sacriston last December but our buyer keeps e-mailing me to say her lawyer needs to hear from mine. What should my lawyer have done now that I have sold?
After completion of your disposal your lawyer is duty bound to send the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your conveyancer should also send confirmation that the mortgage has been discharged to the purchasers solicitors. There is unlikely to be post completion steps unique to conveyancing in Sacriston.
The deeds to our property are lost. The lawyers who dealt with the conveyancing in Sacriston 10 years ago have long since closed. What are my options?
As long as the title is registered the information relating to your ownership will be recorded by the Land Registry with a Title Number. It is easy to conduct a search at the Land Registry, find your house and get current copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Sacriston is where the house is located. Can you offer any guidance?
Flying freeholds in Sacriston are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sacriston 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 Sacriston 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 note that you have a post code search directory identifying solicitors on the mortgage company conveyancing panel. Do Sacriston conveyancing companies pay you a commission if I appoint them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Sacriston.