I am 4 weeks into the sale of my home in Stevenage and the estate agent has just e-mailed to say that the buyers are changing their property lawyer. I am told that this is due to the fact that the lender will only deal with solicitors on their approved list. Why would a big named lender only work with certain lawyers rather the firm that they want to choose to handle their conveyancing in Stevenage ?
Lenders have always had panels of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been stiffened 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. The buyers are not going to have any impact on this.
My wife and I have recently appointed a conveyancing solicitor in Stevenage. I I am struggling to find out whether they are accepted on the Clydesdale conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing you should do is e-mail your lawyer and ask them if they can act for the lender. Alternatively please call Clydesdale who may be able to confirm.
Will our lawyer be asking questions about flooding as part of the conveyancing in Stevenage.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Stevenage. Some people will buy a house in Stevenage, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, however there are a various checks that can be initiated by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Stevenage. The standard completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to find out whether the property has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the vendor, then a buyer could bring a claim for damages as a result of such an inaccurate answer. A buyer’s solicitors will also conduct an enviro report. This will reveal whether there is a recorded flood risk. If so, more detailed investigations should be conducted.
I have recentlybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Stevenage for a purchase of a leasehold flat 18 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Stevenage conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Stevenage is where the house is located. Is there any guidance you can impart?
Flying freeholds in Stevenage are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stevenage you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stevenage may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We are 3 weeks into a residential purchase having been referred to a firm by the local agent to handle our conveyancing in Stevenage. I am am very dissatisfied with the quality of service. Can you help me find new conveyancers?
They would have to be really bad in order to consider changing them. Has your loan offer been sent? In the event that it has you need to make them aware of the new contact details and get the offer are re-issued. The conveyancer should be on the mortgage company approved list to avoid escalating costs and complications. That should be your starting point. The search tool will help you find a lender approved lawyer for your conveyancing in Stevenage