I am progressing with the sale of my house in Dawley and Lawley and the estate agent has just telephoned to warn that the purchasers are changing their conveyancer. The excuse is that the bank will only work with solicitors on their approved list. On what basis would a big named mortgage company only deal with certain lawyers rather the firm that they want to choose for their conveyancing in Dawley and Lawley ?
Lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say 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 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 buyers are unlikely to have any sway in the decision.
Finally the sale completed on my house in Dawley and Lawley last June yet the purchaser is calling every few hours complaining that her lawyer is waiting to hear from mylawyer. What should have happened now that I have sold?
Post completion of your house sale your lawyer should forward the transfer documentation and all additional paperwork to the purchaser's conveyancer. If applicable, your lawyer must also evidence that the mortgage has been redeemed to the buyers lawyers. There is unlikely to be post completion steps peculiar conveyancing in Dawley and Lawley.
Are the BSA intent on creating a search tool with a view to list practices on the Norwich and Peterborough Building Society conveyancing panel for example in Dawley and Lawley?
Lexsure has not been advised of any intention on the part of the BSA to promote such a tool.
I used Action Conveyancing several years past for my conveyancing in Dawley and Lawley. I now require my papers but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate 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 Dawley and Lawley of the conveyancing firm of solicitors you previously instructed, 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 put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Dawley and Lawley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Dawley and Lawley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dawley and Lawley you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dawley and Lawley may ascertain 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 premises.
Last April I purchased a leasehold flat in Dawley and Lawley. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a ground floor flat in Dawley and Lawley, conveyancing was carried out in 2005. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Dawley and Lawley with over 90 years remaining are worth £211,000. The ground rent is £45 yearly. The lease expires on 21st October 2092
With only 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.