I am progressing with the sale of my apartment in Waterhouses and the EA has just e-mailed to warn that the buyers are swapping conveyancer. The excuse is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific lawyers rather the firm that they want to select for their conveyancing in Waterhouses ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose 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. 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. Your buyers are not going to have any impact on this.
I purchased a freehold house in Waterhouses but still pay rent, why is this and what is this?
It is rare for properties in Waterhouses and has limited impact for conveyancing in Waterhouses but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial estate in Waterhouses?
Many commercial conveyancing solicitors in Waterhouses will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Waterhouses. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Waterhouses.
For each commercial conveyancing transaction in Waterhouses it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Waterhouses commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Waterhouses.
Due to the input of my in-laws I had a survey completed on a house in Waterhouses prior to retaining lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some lenders will not issue a loan on this type of home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Waterhouses. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Waterhouses to see if the conveyancing will be more expensive.
How do I locate a Waterhouses law firm on the Norwich and Peterborough Building Society conveyancing panel? I have a car and am happy to travel upto 10kilometers to meet the lawyer.
You can use the facility on this page. Please choose the bank and your location and you will see a number of Waterhouses conveyancing lawyers locally. We have listed some Waterhouses conveyancing firms at the bottom of this page and you can contact them to check if they are on the Norwich and Peterborough Building Society approved list
I am 14 days into a residential purchase having been recommend to solicitors by the estate agent to carry out the conveyancing in Waterhouses. I am am starting to be frustrated with the level of service. Could you help me find new lawyers?
A lawyer would have to be really bad to suggest changing them. Has the loan offer been generated? In the event that it has you will need to inform them of the replacement lawyer and get the offer are re-sent. Your new conveyancer needs to be on the banks approved list to avoid escalating charges and complications. That should be your first question of the new lawyers. The find a solicitor tool can assist you in finding a lender approved solicitor for your conveyancing in Waterhouses