I am selling my flat in Shepherd's Bush and the EA has just e-mailed to advise that the buyers are changing their solicitor. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a leading mortgage company only engage with certain lawyers rather the firm that they want to select to handle their conveyancing in Shepherd's Bush ?
Mortgage companies have always had panels of law firms that can act for them, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud as the reason 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 purchasers are unlikely to have any impact on this.
Are the BSA planning on creating a search tool with a view to list law firms on the Darlington Building Society conveyancing panel for example in Shepherd's Bush?
We would not expect to be advised of any plans on the part of the BSA to promote such a search facility.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when buying a residence in Shepherd's Bush?
Unless a previous acquisition of the property completed after 12 October 2013 you may assume that solicitors delivering conveyancing in Shepherd's Bush to remain recommending a chancel search and or chancel repair liability insurance.
How does conveyancing in Shepherd's Bush differ for new build properties?
Most buyers of new build residence in Shepherd's Bush come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Shepherd's Bush tend to acquire the site, 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 conveyancing solicitors 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 used to new build conveyancing in Shepherd's Bush or who has acted in the same development.
Taking into account that I will soon part with over three hundred thousand on a two bedroom apartment in Shepherd's Bush I wish to have a conversation with the conveyancer about myhouse move before appointing the firm. Is this something that you can arrange?
This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you speaking to the conveyancer who will be doing your property ownership legalities in Shepherd's Bush.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Shepherd's Bush should be the figure that you are charged.
I am purchasing a maisonette and cash is in place. My conveyancer has been handed with 2 distinct evidence of photo identification, bank statement, multiple utility bills. Now he wants a copy from a probate lawyer stating that the funds are in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Shepherd's Bush conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.