I am in the process of selling my apartment in Berkhamsted and the estate agent has just called to advise that the purchasers are appointing a new law firm. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their approved list. Why would a big named mortgage company only engage with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Berkhamsted ?
Banks have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lending institutions blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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. Plenty of firms 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 unlikely to have any sway in the decision.
Can I be sure that the Berkhamsted conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in Berkhamsted seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor handling your transaction.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Berkhamsted building society branch on numerous occasions and was told it does not impact the mortgage offer and they will lend. My Berkhamsted conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend based on their published requirements. I have no idea who is right.
Your solicitor must comply with the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Berkhamsted solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Berkhamsted surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I used Arc property Solicitors a few years past for my conveyancing in Berkhamsted. I now require my file but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Berkhamsted of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Berkhamsted is where the house is located. Can you shed any light on this issue?
Flying freeholds in Berkhamsted are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Berkhamsted you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Berkhamsted may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
In searching the web for the words cheap conveyancing in Berkhamsted it brings up numerous property lawyersin the area. How do I determine which is the suitable conveyancing solicitor for the sale of my house?
The preferential method of seeking the right conveyancer is via personal recommendation, so seek the counsel of friends and family who have bought a property in Berkhamsted or a local estate agent or mortgage broker. Charges for conveyancing in Berkhamsted differ, so it's a good idea to request a minimum of three fee calculations from varying types of law firms. Make sure that you know that the costs are guaranteed not to increase.
We have been informed by numerous friends to expect up to two months for Berkhamsted conveyancing to complete.This was 3 ago. The draft contract was only received to my property lawyer a few days ago so now does it countdown?
No official countdown exists for conveyancing in Berkhamsted, or any location. You simply have to ensure that your finances are in place and wait for the rest to come together.