I am selling my apartment in Snodland and the EA has just called to warn that the buyers are swapping property lawyer. The excuse is that the lender will only work with solicitors on their approved list. On what basis would a major lender only deal with specific lawyers rather the firm that they want to choose for their conveyancing in Snodland ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened 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 hearing daily from firms that have been removed from panels. Plenty of firms 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. Your buyers are unlikely to have any impact on this.
Can the conveyancing solicitors that you recommend handle conveyancing in Snodland by way of an attended exchange?
We do have a number of conveyancing experts who can conduct personalised exchanges. You should e-mail us to receive a fee calculation and details as to dates.
My wife and I have arranged the release of further monies on our home loan from Skipton as we intend to carry out alterations to our home in Snodland. Are we obliged to select a high street Snodland solicitor on the Skipton conveyancing panel to deal with the legals?
Skipton do not ordinarily instruct a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
We were going to get a DIP from UBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any Snodland solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Snodland solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Snodland building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Snodland conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend based on their specific requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender approved list, they must adhere to the CML Handbook provisions for the 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 left on the lease.
What does a local search tell me about the house I am purchasing in Snodland?
Snodland conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Searchflow The local search plays an important role in many a Snodland conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I am looking for a flat up to £245,000 and found one round the corner in Snodland I like with open areas and station nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Snodland suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How easy is it to swap solicitor as I have to instruct a firm on the Santander conveyancing list. I instructed a high street conveyancing solicitor in Snodland five minutes from me but he is not approved by Santander
It would be our pleasure to help you select a conveyancing solicitor in Snodland on the Santander panel. Please note that the property lawyers that we list do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Snodland. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Snodland.