I am nearing exchange of contracts for my house in Thornaby on Tees and the EA has just telephoned to warn that the purchasers are appointing a new solicitor. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Thornaby on Tees ?
Lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions point to the increase in fraud as the reason for the reduction – 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 being contacted daily by practices that have been removed from panels. Plenty of firms 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. Your purchasers are not going to have any impact on this.
My fiancee and I are acquiring our first home. The conveyancing practitioner has contact usto ask if we would like to order additional conveyancing searches. We are really unsure what's needed for conveyancing in Thornaby on Tees
The scope of Thornaby on Tees conveyancing searches depends entirely on the premises, the location, the possibility of any of these risks, your knowledge of the locality and risks, your overall appetite to risk. What is important is that you properly comprehend what information the searches could give you. Then you can decide if you personally think you need that search. Where you are unsure, ask your property lawyer to offer guidance.
Why is leasehold purchase conveyancing in Thornaby on Tees is more expensive?
Thornaby on Tees leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am selling our property in Thornaby on Tees and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a web based conveyancing practice rather than a conveyancing solicitor in Thornaby on Tees. We have lived in Thornaby on Tees for 5 years we know of no issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I have recentlybeen informed that Wolstenholmes have closed. They carried out my conveyancing in Thornaby on Tees for a purchase of a freehold house 10 months ago. How can I be sure that the property is registered correctly in the name of the previous owner?
The quickest way to see if the property 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 Thornaby on Tees conveyancing specialists.
I'm refinancing my primary home to a BTL loan with Barclays Direct and intend to use the remaining equity towards further house. The neighborhood we are looking at is Thornaby on Tees. Will your solicitors be able to act for the two banks and tie in the two deals?
Do use our comparison tool on this site to check that the solicitors are approved by both mortgage companies. Having checked that they are your conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you lawyer and specify your desired outcome and requirements.