I am progressing with the sale of my apartment in Old Woking and the EA has just telephoned to say that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the lender will only engage with solicitors on their conveyancing panel. Why would a major lender only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Old Woking ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been stiffened 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. 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.
It is 10 years ago since I purchased my property in Old Woking. Conveyancing solicitors have now been appointed on the sale but I am unable to track down the title deeds. Will this cause complications?
Don’t worry too much. Firstly the deeds may be with the lender or they could be in the possession of the solicitor who oversaw the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Old Woking involves registered property but in the unlikely event that your property is unregistered it is more problematic but is resolvable.
I am purchasing a right to buy a flat in Old Woking. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Old Woking you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Old Woking.
My wife and I are planning on selling our home in Old Woking and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Old Woking conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using an online conveyancing firm rather than a conveyancing solicitor in Old Woking. We have lived in Old Woking for 5 years we know of no issue. Should we contact our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
We're first time buyers - agreed a price, but the agent told us that the owners will only move forward if we appoint their recommended conveyancers as they need a ‘quick sale’. We would rather use a family conveyancer used to conveyancing in Old Woking
It is highly unlikely the owners are behind this. Should the vendor desire ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Speak to the vendors direct and make sure they comprehend that (a)you are serious purchasers (b)you are ready to progress, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Old Woking conveyancing lawyers - as opposed tothe ones that will give their estate agent a introducer fee or meet his conveyancing figures pre-set by HQ.
I am on look out for some leasehold conveyancing in Old Woking. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Old Woking - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Old Woking - Examples of Queries Prior to Purchasing
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Please note that where the lease has less than eighty years it will impact the value of the property. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely require a lease extension at some point and it is worth discovering what this will be. For most Old Wokinglease extensions you will need to own the premises for a couple of years before you are eligible to extend the lease. Be sure to find out if the the lease includes any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Old Woking. If you love the apartmentin Old Woking however your cat can’t live with you then you will be faced hard choice.