I am nearing exchange of contracts for my home in Crawley Down and the EA has just called to advise that the buyers are changing their law firm. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a major lender only work with specific law firms rather the firm that they want to appoint for their conveyancing in Crawley Down ?
UK lenders have always had panels of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal 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. 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. Your purchasers are unlikely to have any sway in the decision.
My lawyer has discovered a a legal deficiency with the lease for the flat we are buying in Crawley Down. The other side have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer says that he must ensure that the lender is content with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
When will exchange of contracts happen for purchase conveyancing in Crawley Down and do I need to attend the conveyancers office?
If you are in close proximity to our conveyancing solicitors in Crawley Down you are invited in to sign the paperwork. That being said, the lender approved solicitors we recommend provide a nationwide conveyancing service and provide just as diligent and professional a job for you when dealing with you digitally. The signing of the contract is not the important part. A signed contract is just a prerequisite for the conveyancer to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Crawley Down)to be in the office available at the end of the phone to exchange contracts.
We are planning to move property in March. Will my conveyancing solicitor update the removal company on the day of completion. As an aside, can you recommend a removal company in Crawley Down. Conveyancing firm was organised prior to coming across this page.
On the afternoon of completion you can collect the keys from your selling agent however this should only take place when the vendors lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be given over. After that you will need to inform the removal men that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can assist you in choosing a conveyancing in Crawley Down or a firm that specialises in conveyancing in Crawley Down.
My partner and I have arranged a further advance on our mortgage from RBS as we wish to carry out a loft conversion to our house in Crawley Down. Do we need to choose a high street Crawley Down solicitor on the RBS conveyancing panel to deal with the legals?
RBS do not ordinarily require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Crawley Down solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Crawley Down surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
A colleague advised me that where I am buying in Crawley Down I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Crawley Down conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Crawley Down around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Crawley Down Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data about Crawley Down.