I am progressing with the sale of my ground floor flat in Baschurch and the EA has just called to say that the buyers are appointing a new property lawyer. The excuse is that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a major lender only work with specific lawyers rather the firm that they want to choose to handle their conveyancing in Baschurch ?
Lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders justify this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose 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. Your buyers are unlikely to have any sway in the decision.
We are purchasing a flat in Baschurch. It might be a silly question but how we can trust a solicitor? On completion day we will need to put our life savings into their account. What protection do we have from them run away with our deposit?
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.
It is unclear whether my bank requires a lease extension. I have telephoned my Baschurch bank branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Baschurch conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend in accordance with their specific requirements. Who do I believe?
Provided that the property lawyer is on the mortgage company panel, they must follow the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After weeks of negotiation I have agreed a price on an apartment in Baschurch. My mortgage broker suggested a lawyer. I paid an upfront payment of £225. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I used Stirling Law a few years past for my conveyancing in Baschurch. Now, I need the documents however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Baschurch of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build apartment in Baschurch. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Baschurch
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants.
Estate agents have just been given the go-ahead to market my garden apartment in Baschurch. Conveyancing is yet to be initiated, but I have recently received a yearly service charge invoice – Do I pay up?
It best that you clear the service charge as you normally would as all ground rent and maintenance charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a basement flat in Baschurch, conveyancing formalities finalised 3 years ago. How much will my lease extension cost? Similar properties in Baschurch with an extended lease are worth £211,000. The ground rent is £45 invoiced every year. The lease terminates on 21st October 2094
You have 68 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
How and when do I cover the costs of stamp duty due for my Baschurch house purchase?
The property lawyer should complete a stamp duty return on your behalf as part of your Baschurch purchase transaction for signature. On completion your conveyancer will submit your Land Transaction Return Form to the Tax Authorities and - as long as they have the money - settle any tax bill liability on your behalf.