I am selling my house in St Columb and the estate agent has just called to say that the buyers are swapping solicitor. The reason given is that the lender will only work with solicitors on their conveyancing panel. On what basis would a major lender only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in St Columb ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks attribute 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 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. Some 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 unlikely to have any sway in the decision.
Why is leasehold purchase conveyancing in St Columb is more expensive?
The conveyancing costs for a leasehold premises in St Columb is inevitably more expensive when contrasted to a freehold residence. This is due to the supplemental work required in dealing with the freeholder and managing agents to collate the information about whether the rent and maintenance fee have been paid and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
I have been told that property searches are the number one reason for stalling in St Columb house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in St Columb.
Due to the guidance of my in-laws I had a survey completed on a property in St Columb ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some lenders tend not issue a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in St Columb. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Columb to see if the conveyancing costs will increase in light of this.
Hoping to buy a property located in St Columb and I am already nervous. I couldn't find anything specific about St Columb. Conveyancing will be needed in due course but do you know about the St Columb area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at St Columb. In the meantime here are some basic statistics that we found
Am I best advised to choose a St Columb conveyancing solicitor in close proximity to the house I am purchasing? I have an old university friend who can handle the legal work however they are based 300miles drive away.
The benefit of a high street St Columb conveyancing firm is that you can visit the firm to sign documents, deliver your ID and pester them if necessary. Having local St Columb know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were content that must outweigh using an unfamiliar St Columb conveyancing solicitor solely due to them being round the corner.