I am selling my maisonette in Southend and the EA has just e-mailed to advise that the buyers are switching property lawyer. The excuse is that the lender will only engage with property lawyers on their conveyancing panel. Why would a big named lender only engage with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Southend ?
UK lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lending institutions blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. 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. Your buyers are not going to have any sway in the decision.
We're in Southend, First timers buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
When it comes to mortgage companies such as Skipton, do Southend property lawyers face an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I am currently in the process of buying my council flat in Southend. I have a mortgage agreed with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
Completion of my purchase has taken place for my property in Southend. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The lawyers who dealt with the conveyancing in Southend 4 years ago have long since closed. What are my next steps?
Nowadays there are duplicates made of almost everything, and your conveyancer will be aware precisely where to find all the suitable paperwork so you may purchase or dispose of your property without a hitch. If copies can’t be found, your conveyancer may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on the property.
The estate agent has sent us the confirmation of our purchase of a new build flat in Southend. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Southend
-
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I'm remortgaging my existing house to a buy to let loan with Barclays and I will use the rest of the raised equity towards further house. The area we are talking about is Southend. Will your conveyancers be able to act for the two banks and link together the transactions?
Do use our comparison tool on this page to check that the conveyancers are approved by both lenders. Assuming that they are the solicitor should be able to connect the two conveyancing matters but you should have a chat with you lawyer and communicate your desired outcome and needs.