I am selling my house in Shirehampton and the EA has just telephoned to warn that the purchasers are changing their conveyancer. I am told that this is due to the fact that the lender will only work with solicitors on their conveyancing panel. Why would a big named lender only engage with certain law firms rather the firm that they want to select for their conveyancing in Shirehampton ?
Lenders have always had panels of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many 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 keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Shirehampton. Do I pick up the keys to the premises on the completion date from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Shirehampton?
On the day of completion you do not need to attend the conveyancers office in Shirehampton. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's lawyers, and shortly after the monies have arrived, you will be called to receive the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
I'm the single beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Shirehampton. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the property. I do know about the CML six month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the property in November. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. many banks would take a sensible view as this provision is principally there to capture subsales or the wholesaling and assigning of properties.
I can not fathom if my lender requires a lease extension. I have called my Shirehampton bank branch on numerous occasions and was told they are content with the situation and they will lend. My Shirehampton conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?
The solicitor must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I require quick conveyancing in Shirehampton as I am under an ultimatum to sign on the dotted line within 3 weeks. Fortunately I do not need a mortgage. Can I decline from having conveyancing searches to save money and time?
If.Given you are not getting a mortgage you have the choice not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Shirehampton the following are examples of issues that can arise and therefore impact market value: Enforcement Notices, Overdue Fees, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Shirehampton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Shirehampton. 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 need to retain a conveyancing solicitor for freehold conveyancing in Shirehampton. I have land on a site which appears to be the ideal answer If it is possible to get all the legals done via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
At long last our conveyancing in Shirehampton is completing on Friday, but the people I am buying off has asked to vacate 24 hours later at midday. Can I accept such a plan?
You can't complete on a Saturday because the bank systems are not operating.