I am in the process of selling my house in Bexleyheath and the estate agent has just e-mailed to say that the buyers are swapping law firm. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a big named lender only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Bexleyheath ?
Mortgage companies have always had an approved set of law firms that can act for them, 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 reduction – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose 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. 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. The purchasers are unlikely to have any sway in the decision.
We have rather pushy vendors who has suggested a preliminary contract with a payment 10k. Are such agreements promoted for Bexleyheath conveyancing transactions?
This type of preliminary agreement is unusual in Bexleyheath, conveyancers will often try and steer clients away from them as they divert attention from the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor is left exposed. Secondly, there is no guarantee that just because the seller has signed an exclusivity contract they will sell to you. They may be in contravention of the contract if they are offered a big enough financial inducement to do so because an aggrieved purchaser with the benefit of a exclusivitycontract will still be legally obliged to establish consequential losses from the breach and this may not amount to the extra amount that your vendor may secure by breaching the agreement, no matter how morally unworthy it undoubtedly is.
I am purchasing a new build flat in Bexleyheath. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Bexleyheath you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Bexleyheath.
I am downsizing from our property in Bexleyheath and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A high street Bexleyheath conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a nationwide conveyancing outfit rather than a conveyancing solicitor in Bexleyheath. We have lived in Bexleyheath for 4 years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? 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 health insurance to cover that same sickness)
How does conveyancing in Bexleyheath differ for newly converted properties?
Most buyers of new build property in Bexleyheath approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Bexleyheath 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 conveyancing solicitors 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 Bexleyheath or who has acted in the same development.
As co-executor for the estate of my grandmother I am disposing of a property in Monmouth but reside in Bexleyheath. My solicitor (based 235 miles from mehas requested that I sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Bexleyheath to attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are based in Bexleyheath