I am one month into the sale of my house in Bellingham and the EA has just telephoned to say that the purchasers are changing their property lawyer. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only work with specific law firms rather the firm that they want to select to handle their conveyancing in Bellingham ?
Lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions attribute this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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. 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. Your buyers are unlikely to have any impact on this.
The Bellingham conveyancing firm that I recently instructed on my purchase in Bellingham have suddenly closed. They were on acting for me because I had to have a firm on the Clydesdale conveyancing panel and my family Bellingham lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
My wife and I are downsizing from our house in Bellingham and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A high street Bellingham conveyancer would know that there is no such problem. It does beg the question why the buyers used an internet conveyancing practice as opposed to a conveyancing solicitor in Bellingham. We have lived in Bellingham for 5 years we know that this is a non issue. Do we contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
How does conveyancing in Bellingham differ for newly converted properties?
Most buyers of new build or newly converted property in Bellingham contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because developers in Bellingham 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 property lawyers 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 Bellingham or who has acted in the same development.
I need to appoint a conveyancing solicitor for my conveyancing in Bellingham. I have land on a web site which seems to have the ideal answer If it is possible to get all this stuff completed via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Bellingham. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Bellingham ?
The majority of houses in Bellingham are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Bellingham so you should seriously consider looking for a Bellingham conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Bellingham conveyancing firm to help?
Absolutely. We are happy to put you in touch with a Bellingham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Bellingham residence is 75 Woolstone Road in February 2012. the decision of the Tribunal was that the appropriate amount to be paid to purchase the freehold was the sum of £17,711 . This case affected 2 flats. The number of years remaining on the existing lease(s) was 68.28 and 158.