I am 3 weeks into the sale of my house in Tunstall and the estate agent has just called to say that the buyers are switching solicitor. The excuse is that the bank will only engage with property lawyers on their conveyancing panel. Why would a major lender only work with specific law firms rather the firm that they want to select for their conveyancing in Tunstall ?
Lenders have always had an approved set of law firms they are willing to work with, but in recent 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.
Lending institutions blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to disclose 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 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. The buyers are unlikely to have any sway in the decision.
When can the exchange of contracts take place for domestic conveyancing in Tunstall and do I need to be at the conveyancers office?
If you are local to one of the conveyancing solicitors in Tunstall you are invited in to sign documents. However, the lender approved solicitors we recommend supply a national conveyancing service and give as equally diligent and professional a job for you when dealing with you electronically. The executing of the property agreement is not the critical part. A signed contract simply enables the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Tunstall)to be in the office at the appropriate time.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Tunstall. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this possible?
Where you intend to refinance then Skipton will insist on your using a conveyancer on the Skipton conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Skipton conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Skipton mortgage is registered as a charge at the Land Registry.
Is there a list of Santander panel solicitors in Tunstall on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings available on the web. Where you are looking for a Tunstall property lawyer on the Santander please make the most of our facility.
How can we know in advance if a Tunstall conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Tunstall seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your conveyancing.
Nottingham have agreed my mortgage in principle, my bid on a house in Tunstall has been accepted, what are the next steps?
The property agent will need to be informed of your solicitor's details (make sure the conveyancers are on the bank’s approved list). Telephone Nottingham or your financial adviser and complete any appropriate documentation. Nottingham will sellect a valuer who will get in contact with the selling agent or owners to book a slot for the valuation to take place. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. Nottingham will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Tunstall.
What will a local search tell me concerning the property I am buying in Tunstall?
Tunstall conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search plays a central role in many a Tunstall conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I am looking to acquire a repossessed flat in Tunstall and the mortgagee in possession would like to complete within a week. Can a lawyer complete in this timeframe? Would it be better to use a local Tunstall firm or an online firm that professes to complete quickly?
Attend your Tunstall shopping parade. Pop in to 3 solicitor’s offices and ask to see a conveyancing solicitor for an estimate. Discuss your situation and seek assurances on speed. Select the one that appears most genuine. You need to use a conveyancing practitioner on the panel of conveyancing practitioners who can act for your mortgage company.