I am in the process of selling my ground floor flat in South Woodham Ferrers and the estate agent has just text me to advise that the purchasers are switching law firm. The excuse is that the bank will only engage with solicitors on their conveyancing panel. Why would a major lender only work with specific solicitors rather the firm that they want to appoint for their conveyancing in South Woodham Ferrers ?
Lenders have always had panels of law firms that can act for them, but in the past 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 decades.
Banks blame a rise in fraud by way of justification for the pruning – 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 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 buyers are not going to have any sway in the decision.
My husband and I are nearing an exchange on a property in South Woodham Ferrers and my mum and dad have transferred the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your conveyancing practitioner is duty bound to clarify with lender to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Is there a search tool that I can use to check that the solicitor conducting my conveyancing in South Woodham Ferrers is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Scotland thus paying £192.00 in another set of conveyancing bill.
You should take advantage of the search tool on this page. Pick the mortgage company and type ‘South Woodham Ferrers’ or your location and you will be presented with numerous solicitors offices in South Woodham Ferrers or near you.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial estate in South Woodham Ferrers?
Its becoming the norm that commercial conveyancing solicitors in South Woodham Ferrers will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in South Woodham Ferrers. The report provides 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 South Woodham Ferrers.
For every commercial conveyancing transaction in South Woodham Ferrers it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to South Woodham Ferrers commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in South Woodham Ferrers.
I need to find a conveyancing solicitor for freehold conveyancing in South Woodham Ferrers. I happened to stumble across a site which appears to be the perfect answer If there is a chance to get all formalities done via web that would be preferable. 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?
I am in need of some leasehold conveyancing in South Woodham Ferrers. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in South Woodham Ferrers - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in South Woodham Ferrers - A selection of Questions you should ask Prior to buying
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What is the name of the managing agents? The prefered form of lease arrangement is if the freehold interest is owned by the leaseholders. In this situation the lessees benefit from being in charge if their destiny and even though a managing agent is often employed if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Best to be warned if redecorating or some other major work is due in the near future that will be shared by the leasehold owners and will materially increase the the maintenance fees or necessitate a one time invoice.