I am progressing with the sale of my maisonette in Scotter and the EA has just text me to warn that the buyers are swapping law firm. The excuse is that the mortgage company will only work with property lawyers on their conveyancing panel. Why would a leading lender only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in Scotter ?
UK lenders have always had an approved set of law firms that can represent them, 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 represented them for over 25 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been narrowed 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 hearing daily from firms 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. Your purchasers are unlikely to have any impact on this.
We are about to exchange contracts for a garden flat in Scotter. We have hit a problem. The loan offer with Nationwide Building Society runs out on 12/6/2025 but the vendors are suggesting a completion date of 16/6/2025. Can one prolong the loan offer?
The person best placed to address this concern is your conveyancer who is in a position to determine whether he or she is better off negotiating with the bank, owner’s lawyers, estate agents or indeed all three given the circumstances your conveyancing to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in Scotter? Why is this being asked of me?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you need to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to supply identification documents, your conveyancer will not be able to take you on as a client.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Scotter?
Its becoming the norm that commercial conveyancing solicitors in Scotter will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Scotter. The search result 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 Scotter.
For each commercial conveyancing transaction in Scotter 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 could result in delays to Scotter commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Scotter.
How does conveyancing in Scotter differ for new build properties?
Most buyers of new build or newly converted property in Scotter contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Scotter typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Scotter or who has acted in the same development.
We are in the process of purchasing a home in Scotter. Conveyancing is not complete but we would like have the amount we are are buying for a secret from the likes of Zoopla. Is this possible and how?
HMLR are legally required to note price paid data on the official title for domestic properties nationwide which includes homes in Scotter. The register of ownership is a public document, so HMLR would be breaching their statutory duty if they did not permit access to the register.
In essence you can make a request of HM Land Registry to hide the amount paid entry however the response would be a No.