I am progressing with the sale of my apartment in Saxilby and the EA has just text me to advise that the purchasers are appointing a new law firm. The reason given is that the lender will only work with solicitors on their conveyancing panel. Why would a big named mortgage company only engage with certain lawyers rather the firm that they want to select for their conveyancing in Saxilby ?
Lenders have always had panels of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. 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. 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 purchasers are not going to have any sway in the decision.
In what way does my ID and proof of funds have anything to do with my conveyancing in Saxilby? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the ID of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign should stipulate this. Your lender will also require certain documents to be viewed. Should you refuse to hand over identification documents, your lawyer can not take you on as a client.
I am purchasing a flat and require a conveyancing solicitor in Saxilby who is on the Clydesdale conveyancing. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Clydesdale in certain locations such as Saxilby. We dont recommend any particular firm.
It has been 3 months following my purchase conveyancing in Saxilby completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Saxilby. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Saxilby
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan.
I'm refinancing my current house to a buy to let mortgage with Bank of Ireland and intend to use the remaining equity as a deposit on further house. The area we are interested in is Saxilby. Will your conveyancers be able to act for both sets of mortgage companies and tie in the two deals?
Make use of our comparison tool on this site to ensure that the solicitors are on the appropriate lender panels. Having checked that they are your lawyer will be able to simultaneously deal with the two deals but you should have a chat with you lawyer and communicate your desired outcome and requirements.