I am progressing with the sale of my house in Canvey Island and the EA has just telephoned to advise that the purchasers are swapping solicitor. The reason given is that the bank will only work with solicitors on their conveyancing panel. On what basis would a major lender only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Canvey Island ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. 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 do not even realise 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 unlikely to have any sway in the decision.
When does exchange of contracts occur in sale conveyancing in Canvey Island and do I need to attend the solicitors branch?
Where you are local to our conveyancing solicitors in Canvey Island you are invited in to sign documents. However, the law practices we work with supply countrywide coverage for conveyancing and provide just as detailed and professional a job for you when dealing with you digitally. The executing of the contract is not the point of no return. A signed contract is necessary for the firm to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Canvey Island)to be in the office at the appropriate time.
Do commercial conveyancing searches reveal planned roadworks that could impact a commercial premises in Canvey Island?
Its becoming the norm that commercial conveyancing solicitors in Canvey Island will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Canvey Island. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Canvey Island.
For each commercial conveyancing transaction in Canvey Island it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Canvey Island commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Canvey Island.
Due to the guidance of my in-laws I had a survey completed on a property in Canvey Island prior to appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies may not give a loan on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Canvey Island. Conveyancing will be smoother if you use a solicitor in Canvey Island especially if they are familiar with such properties in Canvey Island.
Is it true that a Canvey Island conveyancing solicitor got sued by clients for failing to conduct the right conveyancing investigations?
We are not aware of such a Canvey Island conveyancing claim but it has been reported that, a couple purchasing a house in Cumbria successfully sued their property lawyer due to development permission to erect a wind farm not being picked up in conveyancing searches.
If you are contemplating buying a home in Canvey Island It is essential that your conveyancing practitioner carry out all Canvey Island conveyancing searches needed making sure that you have relevant and up to date information ahead of acquiring a home in Canvey Island.