I am progressing with the sale of my flat in Castle Vale and the EA has just e-mailed to advise that the purchasers are changing their law firm. The excuse is that the bank will only work with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only work with specific lawyers rather the firm that they want to choose for their conveyancing in Castle Vale ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 purchasers are unlikely to have any sway in the decision.
Some advice if I may. My Castle Vale solicitor is assuring me that he has toconduct Castle Vale conveyancing searches asthe firm are on the HSBCsolicitor panel. Do I not have any options here?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Castle Vale conveyancing searches.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial estate in Castle Vale?
Many commercial conveyancing solicitors in Castle Vale will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Castle Vale. The search result provides 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 Castle Vale.
For each commercial conveyancing transaction in Castle Vale it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Castle Vale commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Castle Vale.
Due to the advice of my in-laws I had a survey completed on a property in Castle Vale prior to appointing solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks may refuse to give a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Castle Vale. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Castle Vale and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business tenants, granting the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Castle Vale is one of our numerous areas of the UK in which the firms we work with are located