I am selling my ground floor flat in Beckton and the EA has just e-mailed to advise that the purchasers are changing their law firm. The reason given is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only work with certain solicitors rather the firm that they want to select for their conveyancing in Beckton ?
Mortgage companies have always had panels of law firms that can represent them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to monitor. 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. The buyers are unlikely to have any impact on this.
My grandmother passed away last year and as sole heir and executor I was left the house in Beckton. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?
Given you plan to refinance then Clydesdale will insist on your using a conveyancer on the Clydesdale 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 Clydesdale 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 Clydesdale mortgage is registered as a charge at the Land Registry.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Beckton. Do I collect the keys to the premises on the completion date from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Beckton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the owner’s conveyancers, and once they have received this, you will be invited to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
Does a directory service exist listing Principality panel conveyancers in Beckton on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of lenders make their panel listings open the public online. If you are in need of a Beckton lawyer on the Principality please use our facility.
is it true that all Beckton solicitor practices on the Barclays conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The solicitors who conducted the conveyancing in Beckton 10 years ago are no longer around. What are my options?
Gone are the days when you need to have the physical original deeds to evidence that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
I am buying a new build house in Beckton with the aid of help to buy. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not inform my lawyer about this deal as it would put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Beckton and how can your lawyers assist?
The 1954 Act affords protection to commercial leaseholders, granting the dueness to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Beckton is one of our many locations in which our lawyers have offices