I am six weeks into the sale of my flat in Henllys and the estate agent has just e-mailed to advise that the buyers are changing their solicitor. The reason given is that the mortgage company will only deal with property lawyers on their approved list. Why would a leading lender only deal with specific lawyers rather the firm that they want to choose to handle their conveyancing in Henllys ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been tightened 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. Your buyers are unlikely to have any impact on this.
Would the conveyancing lawyers listed on your site perform right to buy conveyancing in Henllys?
We work with a number of conveyancing conveyancers who can handle right to buy transactions Do get in touch with the conveyancers listed to obtain a costs illustration.
Me and my partner are purchasing a house in Henllys. I might seem paranoid but how we can trust a solicitor? At some point we have to deposit money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Can I be sure that the Henllys conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Henllys getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer conducting your conveyancing.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Henllys building society branch on various occasions and was told it wasn't a problem and they will lend. My Henllys conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their published requirements. I simply don't know who is right.
The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will our lawyer be making enquiries about flooding as part of the conveyancing in Henllys.
Flooding is a growing risk for conveyancers dealing with homes in Henllys. Plenty of people will buy a property in Henllys, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a numerous checks that may be initiated by the buyer or by their lawyers which can give them a better appreciation of the risks in Henllys. The conventional set of information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the seller to discover if the property has suffered from flooding. If flooding has previously occurred which is not notified by the vendor, then a purchaser may bring a claim for damages as a result of such an misleading answer. A purchaser’s solicitors may also carry out an enviro report. This will indicate if there is any known flood risk. If so, additional investigations should be made.
How does conveyancing in Henllys differ for newly converted properties?
Most buyers of new build or newly converted property in Henllys contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Henllys usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Henllys or who has acted in the same development.