I am progressing with the sale of my ground floor flat in Stocksfield and the EA has just e-mailed to advise that the purchasers are changing their solicitor. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Stocksfield ?
Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. 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 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 purchasers are not going to have any sway in the decision.
I am need of leasehold conveyancing for an apartment in a relatively new development (6 years old) in Stocksfield. Almost all the appartments are already disposed of. Do I need carry out the neighbourhood searches as part of conveyancing in Stocksfield?
You are opening yourself up to an unnecessary risk in failing carrying out Stocksfield conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would seriously advise in the strongest possible terms that your solicitor conducts them. If accelerating the process and price are primary issues you should discuss with your lawyer about the options such as indemnity insurance available to you
Do the Building Society Association intend to launch a online directory to list solicitors on the Coventry BS conveyancing panel for example in Stocksfield?
We would not expect to be advised of any intention on the part of the BSA to promote such a search facility.
A colleague suggested that if I am buying in Stocksfield I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Stocksfield conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Stocksfield around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Stocksfield Education with maps and statistics, Local Amenities and other useful information regarding Stocksfield.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Stocksfield is the location of the property. Can you offer any guidance?
Flying freeholds in Stocksfield are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stocksfield you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stocksfield may decide 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 property.
We're FTB’s - agreed a price, but the property agent has warned us that the seller will only proceed if we use the agent's recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a family conveyancer with experience of conveyancing in Stocksfield
It is highly unlikely the vendors are behind this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Contact the owners directly and explain that (a)you are genuine purchasers (b)you are ready to progress, with finances arranged © you are unencumbered (d) you wish to move quickly (e)but you intend to use your own,trusted Stocksfield conveyancing firm - not the ones that will provide their negotiator at the agency a referral fee or hit his conveyancing thresholds set by corporate headquarters.