I am progressing with the sale of my home in Crowborough and the EA has just text me to warn that the purchasers are changing their property lawyer. I am told that this is due to the fact that the bank will only work with solicitors on their approved list. On what basis would a major lender only engage with certain lawyers rather the firm that they want to choose for their conveyancing in Crowborough ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the last 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 more than 15 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. 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 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. Your buyers are unlikely to have any sway in the decision.
Last February we completed a house move in Crowborough. We have since encountered a number of problems with the house which we suspect were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been conducted for conveyancing in Crowborough?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Crowborough. Conveyancing searches and due diligence initiated during the legal transfer of property are designed to help avoid problems. As part of the process, a property owner fills in a form called a Seller’s Property Information Form. If the information proves to be misleading, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Crowborough.
What happens if my lawyer’s firm is suspended from the Barclays Solicitor panel ahead of completing my conveyancing in Crowborough?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Crowborough I like with a park and station nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Crowborough suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I need to find a conveyancing solicitor for remortgage conveyancing in Crowborough. I've stumble upon a site which looks to be the perfect offering If there is a chance to get all formalities done via phone that would be preferable. Do I need to be wary? What should out be looking out for?
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?
Is it true that a Crowborough conveyancing company has court proceedings brought against them by a client for not carrying out comprehensive conveyancing investigations?
We are not aware of such a Crowborough conveyancing claim but according to a recent report, a couple acquiring a home elsewhere in England successfully won a claim against their conveyancer due to development plans to build a wind farm failing to be picked up in conveyancing searches.
If you are buying in Crowborough It is important that your lawyer conduct all Crowborough conveyancing searches required making sure that you have relevant and up to date information ahead of acquiring a property.