I am progressing with the sale of my house in Sandbach and the estate agent has just telephoned to say that the purchasers are changing their law firm. The reason given is that the mortgage company will only deal with property lawyers on their approved list. Why would a major mortgage company only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Sandbach ?
UK lenders have always had an approved set of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud by way of justification for the reduction – 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 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. Your buyers are unlikely to have any sway in the decision.
I am the registered owner of a freehold residence in Sandbach yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Sandbach and has limited impact for conveyancing in Sandbach but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Are all Sandbach Conveyancing Quality Solicitors on the Principality conveyancing panel?
Some major lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
Does a directory service exist listing Nottingham panel solicitors in Sandbach on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings visible over the internet. If you are looking for a Sandbach solicitor on the Nottingham please use our tool.
Is it the case that all Sandbach solicitor practices on the Co-operative conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Co-operative conveyancing panel they would need to be regulated by the SRA. Some mortgage companies do permit licenced conveyancers on their panel and in that case the organisation would be overseen by the Council of Licensed Conveyancers.
I am buying a house and the lawyer has raised the issue of Chancel Repair for which the house could be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly warranted for conveyancing in Sandbach
Unless a previous acquisition of the premises took place post 12 October 2013 you could take it that lawyers conducting conveyancing in Sandbach to remain encouraging a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Sandbach?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Sandbach. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am using a search engine for the phrase conveyancing in Sandbach it shows results of many solicitorslocally. With so much choice what is the best way to find the suitable solicitor for purchase transaction?
The best way of seeking a suitable conveyancer is through a trusted recommendation, so ask friends and those you trust who have purchased a property in Sandbach or a respected estate agent or financial adviser. Fees for conveyancing in Sandbach differ, so it's advisable to obtain at least three fee calculations from varying types of companies. Dont forget to clarify what costs in the quote includes.