I am selling my apartment in South Hylton and the EA has just called to warn that the buyers are swapping property lawyer. The reason given is that the lender will only engage with property lawyers on their approved list. On what basis would a leading lender only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in South Hylton ?
Banks have always had panels of law firms they are willing to work with, but in recent 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 more than 15 years.
Lending institutions justify this action to a rise in fraud by way of justification for the pruning – 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 claims that 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.
How up to date is your database of South Hylton solicitors on the RBS conveyancing panel? Do RBS send you an updated list?
South Hylton conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
We're in South Hylton, First time buyers purchasing with a mortgage (lender is Coventry BS , and our solicitor is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I opted to have a survey done on a house in South Hylton in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some lenders will not give a loan on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in South Hylton. Conveyancing will be smoother if you use a solicitor in South Hylton especially if they are accustomed to such properties in South Hylton.
Given that I am about to part with £400,000 on a garden flat in South Hylton I wish to have a conversation with the conveyancer concerning thehouse move ahead of appointing the firm. Can this be arranged?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you first talking to the conveyancer who will be carrying out your conveyancing in South Hylton.There is no ‘factory style conveyancing’ - each client is unique individual, not a file number. The solicitors that we put you in touch with believe that the fees you are quoted for your conveyancing in South Hylton should be the figure that you are charged.
Should one as executor remove a departed person's details from the title deeds for a house in South Hylton?
Where a South Hylton property is co-owned and one of the proprietors dies, their name will not automatically be removed from the title deeds. You are not required to amend the title as when it comes to a disposal you would simply need to supply proof why the joint owner is missing from the conveyance, typically this takes the form of a grant of probate.
With a view to making the sale conveyancing smoother for the sale of the property you can apply to have the deceased party erased from the title by applying to HM Land Registry with evidence of the death. There is no fee from the Registry for this service.