I am one month into the sale of my ground floor flat in Wirral and the estate agent has just called to warn that the buyers are swapping conveyancer. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their approved list. Why would a major lender only work with certain law firms rather the firm that they want to select to handle their conveyancing in Wirral ?
Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened 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 hearing daily from firms 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. The buyers are unlikely to have any impact on this.
I have paid off my mortgage with Nationwide. I assume I don't need a Wirral solicitor on the Nationwide panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
I have instructed a Wirral conveyancing practitioner having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Wirral postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Wirral.
At last I have had an offer on a flat in Wirral agreed to, but there is a chain. The owners have put an offer on a flat, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have selected a nearby conveyancing solicitor in Wirral. What do I do now? At what stage should I apply for the mortgage with Nottingham?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Wirral conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Nottingham approved list. Concerning the next steps this very much dictated by the specifics of your case, attraction to this property and on the state of the market. In a rising market some buyers would apply for the mortgage with Nottingham and pay for the valuation and only if it comes back ok would they request their solicitor to proceed with searches.
I bought my home on 12 April and the transaction details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Wirral said it should be dealt with in a couple of weeks. Are properties in Wirral particularly slow to register?
As far as conveyancing in Wirral registration is no faster or slower than anywhere else in the country. Rather than based on location, timeframes can differ depending on who lodges the application, whether it is in order and if the Land registry must send notices to any interested parties. At present in the region of 80% of submission are completed in less than three weeks but some can be subject to protracted hold-ups. Historically registration occurs after the purchaser is living at the property so 'speed' is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer could speak with the land registry and explain the circumstances.
I have been recommended by a number of selling agents in Wirral to get a quote from a property lawyer using your seach tool. What’s the financial advantage for Estate Agents to promote your site rather than another?
We refuse to give any commission for pointing buyers and sellers in our direction. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am using a search engine for the phrase conveyancing in Wirral it brings up numerous solicitorsin the vicinity. With so much choice what is the best way to find the suitable conveyancer for my move?
The preferential way of finding the right conveyancer is through a trusted recommendation, so seek the opinion of colleagues and those you trust who have acquired a property in Wirral or the local estate agent or financial adviser. Fees for conveyancing in Wirral differ, so it's advisable to obtain a minimum of four fee estimates from different property lawyers. Make sure that you clarify what costs in the quote includes.
What is the reason for new build conveyancing in Wirral being more expensive?
Acquiring a brand new home is completely distinct from the standard house buying conveyancing in Wirral. For a start developers usually insist contracts to exchange within a tight deadline, so there is a a great deal of pressure on your lawyer to make sure all is in order. In addition new build properties frequently involve examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Bank requirements are also more detailed. Due to the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.