I am in the process of selling my flat in Widnes and the estate agent has just telephoned to say that the purchasers are appointing a new law firm. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a big named mortgage company only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Widnes ?
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 represented them for more than 25 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal 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 not going to have any impact on this.
My bid for a property was accepted at auction in Widnes. Conveyancing is needed. What are my next steps?
Given that you are now legally bound yourself to purchase you now have to find a conveyancing lawyer as a matter of priority as you are facing a fast approaching deadline in which to complete the deal. All auction property will ordinarily have an associated auction set of papers. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You should pass this on to the solicitor instructed by you at the earliest opportunity. Do make sure that you have funds in place to complete the transaction on the set completion date.
Please help - my lawyer advises that flying freehold insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Widnes?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Virgin Money. Conveyancing solicitors as opposed to members of the public take out such insurances.
I'm the sole beneficiary of my late father’s will with all property in now in my sole name, including the house in Widnes. The Widnes property was put into my name in July. I now wish to sell up. I do know about the CML 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the house in July. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. many banks would take a pragmatic view as this obligation is primarily there to capture subsales or the quick reselling of properties.
Just had an offer accepted on a new build apartment in Widnes. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Widnes
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I opted to have a survey done on a property in Widnes before appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies may refuse to issue a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Widnes. Conveyancing may be slightly more expensive based on your lender's requirements.
We're FTB’s - had an offer accepted, yet the estate agent has warned us that the owners will only move forward if we instruct their recommended lawyers as they need a ‘quick sale’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in Widnes
It is highly unlikely the sellers are driving this. Should the vendor require ‘a quick sale', taking such a hostile approach to a genuine buyer is counter productive. Speak to the vendors direct and explain that (a)you are serious buyers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Widnes conveyancing lawyers - as opposed tothose that will earn the negotiator at the agency a commission or meet his conveyancing targets demanded by senior management.
My financial adviser has suggested using their lawyer for my conveyancing in Widnes - Is it not simpler better to just use them?
You need to establish if the estate agent is recommending a solicitor or introducing to a conveyancer. There are plenty of Widnes estate agents who recommend two or three Widnes conveyancing firms and get nothing from it.