I am selling my home in Budleigh Salterton and the EA has just e-mailed to warn that the purchasers are appointing a new law firm. I am told that this is due to the fact that the lender will only deal with solicitors on their approved list. On what basis would a leading lender only engage with certain law firms rather the firm that they want to choose to handle their conveyancing in Budleigh Salterton ?

UK lenders have always had an approved set 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 worked with them for decades.

Banks blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. 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. 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 not going to have any sway in the decision.

Have completed on a a terraced house in Budleigh Salterton , What is the estimated time for the Land Registry to record the transfer to my name? My Budleigh Salterton conveyancing solicitor works at snail pace, so I want to be sure that my name is recorded.

As far as conveyancing in Budleigh Salterton registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can differ subject to the party submitting the application, whether there are errors and whether the Land registry must send notices to any third persons or bodies. As of today roughly three quarters of such applications are fully addressed within two weeks but some can be subject to longer delays. Historically registration takes place once the purchaser has moved in to the property thus 'speed' is not typically top priority but if there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.

How does conveyancing in Budleigh Salterton differ for newly converted properties?

Most buyers of new build premises in Budleigh Salterton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Budleigh Salterton typically buy the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Budleigh Salterton or who has acted in the same development.

What is different about your site and alternative web based conveyancing brokers when it comes to conveyancing in Budleigh Salterton?

At this site get a conveyancing quote from a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Budleigh Salterton. As opposed to estate agents and brokerage sites we do not charge firms a fee if you appoint them for your property ownership legalities in Budleigh Salterton

We own a leasehold flat in Budleigh Salterton. Conveyancing was finished in 2010. I have heard that I should not allow the the remaining lease term to fall too short. Why is that a problem?

Budleigh Salterton leasehold properties are for a set period - normally ninety nine years when they are first granted. However many appartments in Budleigh Salterton were built or converted 30 or more years ago and so these leases now have fewer than 80 years left to run. That may sound like plenty of time but Banks, Building Societies and other mortgage companies on the whole require leases to have at least 75 years left to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are approaching 75 years. To optimize the saleability of your property you should be considering whether to extend your lease long before you come to sell it. Furthermore advantages to taking action before the lease reaches even 80 years as when the lease is less than 80 years the premium to be paid to extend starts to increase.