I am selling my ground floor flat in Walton and the EA has just text me to advise that the buyers are appointing a new solicitor. The excuse is that the lender will only work with property lawyers on their approved list. Why would a leading mortgage company only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Walton ?
Banks 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 considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders justify 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 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. 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.
I have given 2 months notice to my current landlord and have to leave my let out flat in Walton by the end of next month. Conveyancing for my house purchase is underway. How realistic is it to complete in six weeks as don't want to have to find short term accommodation?
The normal practice is not to provide notice on a rental until you have exchanged. Assuming that you have not already done so, contact to your lawyer and urge them to they apply pressure on the owners lawyers, try to a target completion date that everyone will work to achieve
Why is leasehold purchase conveyancing in Walton costs more?
In short, leasehold conveyancing in Walton and elsewhere usually warrants extra work compared to freehold conveyancing. This includes analysing the lease terms, corresponding with the landlord concerning the service of required notices, procuring current service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
2 months have gone by following my purchase conveyancing in Walton completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I need to find a conveyancing solicitor for freehold conveyancing in Walton. I have land on a web site which seems to have the ideal answer If there is a chance to get all formalities done via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
If instructed can a conveyancer remove someone from the title of my property in Walton ?
Extracting or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancing practitioner