I am selling my maisonette in Selby and the EA has just text me to advise that the buyers are swapping property lawyer. I am told that this is due to the fact that the bank will only engage with property lawyers on their approved list. On what basis would a big named mortgage company only work with certain lawyers rather the firm that they want to choose to handle their conveyancing in Selby ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 sway in the decision.
Finally the sale completed on my house in Selby last July but my buyer keeps texting every few hours to moan that their solicitor is waiting to hear from mylawyer. What are the post completion sale formalities following completion?
After completion of your sale your lawyer should deliver the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where relevant, your conveyancer should also send confirmation that the mortgage has been redeemed to the buyers solicitors. There is unlikely to be post completion formalities peculiar conveyancing in Selby.
I'm purchasing a new build house in Selby with a loan from Skipton Building Society. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The sale representative suggested that I not inform my conveyancer about this deal as it may affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it possible to transfer to a new firm as I need to choose a firm on the Chelsea Building Society conveyancing list. I was using a local conveyancing solicitor in Selby five minutes from me but she is not approved by Chelsea Building Society
It would be our pleasure to help you select a conveyancing solicitor in Selby on the Chelsea Building Society panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Selby. Using search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Selby.
Been looking for a solicitor for leasehold sale conveyancing in Selby. We are selling, uncomplicated no mortgage to pay off, no rush, currently empty. Got an estimate from a solicitor for a thousand pounds plus VAT which is a little high given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Selby?
Given that it’s a sale only, £450 + VAT would be about the lowest for sale conveyancing in Selby.