I am one month into the sale of my flat in Wisbech and the estate agent has just text me to advise that the buyers are swapping law firm. The reason given is that the mortgage company will only deal with solicitors on their approved list. On what basis would a big named mortgage company only work with certain solicitors rather the firm that they want to choose for their conveyancing in Wisbech ?
UK lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been stiffened 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 being contacted daily by practices 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 not going to have any impact on this.
Our god-son is buying a new build apartment in Wisbech with a mortgage from . His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Due to the guidance of my in-laws I had a survey completed on a property in Wisbech ahead of instructing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks may not grant a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wisbech. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm converting the mortgage on my existing home to a BTL loan with and intend to use the remaining equity towards another house. The neighborhood we are talking about is Wisbech. Will your lawyers be able to act for the two banks and tie in the two deals?
Make use of our comparison tool on this site to check that the conveyancers are on the appropriate lender panels. On the basis that they are your conveyancer will be able to tie up the two conveyancing matters but you should talk with you solicitor and specify your desired outcome and requirements.
Should one remove a departed person's details from the title register for a property in Wisbech?
Where a Wisbech property is jointly owned and one of the owners passes away, their name will not automatically be removed from the title deeds. You are not required to amend the title as when it comes to a sale you would just need to evidence as to the reason the co proprietor is not included in the transfer, such as the probate documents.
With a view to making the sale conveyancing simpler for the sale of the property you may arrange to have the deceased name erased from the title register by submitting an application to HMLR with evidence of the death. There is no charge from the Registry for this service.