I am in the process of selling my maisonette in Chelmsford and the EA has just text me to say that the buyers are changing their conveyancer. I am told that this is due to the fact that the lender will only work with solicitors on their conveyancing panel. Why would a big named lender only engage with specific law firms rather the firm that they want to appoint to handle their conveyancing in Chelmsford ?
Banks have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say 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 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 not going to have any sway in the decision.
I am purchasing a new build flat in Chelmsford. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Chelmsford you will have to appoint a solicitor on your lender'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 Chelmsford.
A colleague pointed out to me me that in purchasing a property in Chelmsford there may be a number of restrictions affecting the ability to carry out external changes to a property. Is this right?
There are anumerous of properties in Chelmsford which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Chelmsford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Chelmsford. A rare aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Barclays your lawyer must check the conveyancing requirements set out in Part two of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Barclays where a lease fails to meet these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not isolated to Chelmsford.
I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Chelmsford is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Is it best to instruct a Chelmsford conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can deal with the legal formalities but his firm is located 200kilometers drive away.
The benefit of a local Chelmsford conveyancing firm is that you can visit the firm to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were happy that should outweigh using an unknown Chelmsford conveyancing lawyer just because they are local.
My wife and I purchased a leasehold house in Chelmsford. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Chelmsford who previously acted has now retired. What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Chelmsford conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 2 bed flat in Chelmsford, conveyancing having been completed January 2011. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Chelmsford with over 90 years remaining are worth £227,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2098
With 72 years unexpired the likely cost is going to be between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
I see that you have a search directory listing firms on the mortgage company conveyancing panel. Do Chelmsford conveyancing firms pay you a commission if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Chelmsford.