I am nearing exchange of contracts for my ground floor flat in New Romney and the EA has just e-mailed to advise that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only engage with certain solicitors rather the firm that they want to select for their conveyancing in New Romney ?
UK lenders have always had panels of law firms they are content to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks point to the increase 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 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 purchasers are unlikely to have any impact on this.
We are planning to acquire a flat and require a conveyancing solicitor in New Romney who is on the approved panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for . We don't recommend any particular firms conducting conveyancing in New Romney.
My aunt passed away six months ago and as sole heir and executor I was left the house in New Romney. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to , pay off the mortgage. Is this allowed?
Where you intend to refinance then will insist on your using a conveyancer on the conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the mortgage is registered as a charge at the Land Registry.
What is your number one tip for choosing a conveyancing solicitor in New Romney
It would be unwise to be seduced by the cheapest New Romney conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I am selling my flat. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, are being a right pain. The New Romney solicitor who is on the conveyancing panel is recommending indemnity insurance as a solution but are requiring a building regulation certificate. Why do have a conveyancing panel if they don't accept advice from them?
It is probably the case that have referred the matter to their valuer. The reason why may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My offer was accepted on a house in New Romney on , valuation was booked 3 days after, all came back fine. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for to deal with your lawyer's application to be on the conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the input of my in-laws I had a survey completed on a property in New Romney before instructing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor advised that some lenders will refuse to give a loan on this type of property.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in New Romney. Conveyancing will be smoother if you use a solicitor in New Romney especially if they are accustomed to such properties in New Romney.