I am 3 weeks into the sale of my apartment in Wollaton and the EA has just e-mailed to warn that the purchasers are switching law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with specific law firms rather the firm that they want to appoint for their conveyancing in Wollaton ?
Banks have always had panels of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions justify this action to 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 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 purchasers are not going to have any sway in the decision.
In researching online forums for an online solicitor in Wollaton, most advise that I should look for a CQS assured lawyer. What is CQS?
Wollaton Conveyancing Quality Scheme solicitors have obtained accreditation by the law Society The Law Society established CQS to promote high standards in the in the legal transfer of properties. CQS enables house movers to recognise solicitor firms that provide a quality residential conveyancing. Wollaton is one of locations in England and Wales in which accredited firms are located. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Association of British Insurers.
I decided to have a survey done on a house in Wollaton before instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies will refuse to issue a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wollaton. Conveyancing will be smoother if you use a solicitor in Wollaton especially if they are familiar with such properties in Wollaton.
I am downsizing from my home. My former lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Wollaton if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Wollaton. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
My husband and I are novice buyers - agreed a price, yet the selling agent has warned us that the seller will only move forward if we instruct their preferred lawyers as they want a ‘quick sale’. Our preferred option is to instruct a local solicitor who is familiar with conveyancing in Wollaton
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', turning down a motivated buyer is counter productive. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you will continue to instruct your own,trusted Wollaton conveyancing solicitors - not the ones that will provide the estate agent a kickback or achieve conveyancing figures pre-set by corporate headquarters.
I am looking at a two maisonettes in Wollaton both have approximately fifty years left on the lease term. Will this present a problem?
There are plenty of short leases in Wollaton. The lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area.
Wollaton Leasehold Conveyancing - A selection of Questions you should ask before buying
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What is the length of the lease? Its a good idea to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to day to day matters such as the cleanliness of the communal areas. Ask other tenants what they think of them. In conclusion, investigate as to the dates that the maintenance fees are due to the managing agents and specifically how they are spending that money. This question is important as a) areas can cause problems in the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have full disclosure