I am selling my home in Buntingford and the EA has just text me to say that the buyers are switching solicitor. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a big named mortgage company only deal with certain law firms rather the firm that they want to select for their conveyancing in Buntingford ?
Banks have always had panels of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
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 monitor. No lender will say 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 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 purchasers are not going to have any sway in the decision.
Are the Buntingford conveyancing solicitors identified as being on the Principality conveyancing panel, together with their details provided by Principality?
Buntingford conveyancing firms themselves provide us confirmation that they are on the Principality conveyancing panel as opposed to being supplied with a list from Principality directly.
I have a renovated Edwardian house in Buntingford. Conveyancing practitioner acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Buntingford and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing solicitor who conducted the work.
My brother has recommend that I appoint his lawyers for conveyancing in Buntingford. Should I find my own solicitor?
No doubt the ideal way to select a conveyancing lawyer is to seek feedback from friends or family who have experience in using the firm you're are thinking of instructing.
All being well we will complete our sale of a £375,000 garden flat in Buntingford in just under a week. The landlords agents has quoted £384 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Buntingford?
For most leasehold sales in Buntingford conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-exchange enquiries
Where consent is required before sale in Buntingford
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I invested in buying a 2 bed flat in Buntingford, conveyancing having been completed in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Buntingford with a long lease are worth £216,000. The ground rent is £50 yearly. The lease finishes on 21st October 2093
With 69 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
I am buying a flat and need a conveyancing solicitor in Buntingford who is on the lender approved panel. Can you recommend a Buntingford or local Buntingford solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who carry out conveyancing in Buntingford. We dont recommend any particular solicitor.