I am nearing exchange of contracts for my ground floor flat in Dersingham and the EA has just called to say that the purchasers are changing their solicitor. The excuse is that the bank will only work with property lawyers on their approved list. On what basis would a leading mortgage company only engage with specific law firms rather the firm that they want to choose for their conveyancing in Dersingham ?
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.
Banks point to the increase in fraud as the reason for the pruning – 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 claims that it is being contacted daily by practices 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 unlikely to have any sway in the decision.
Have just purchased a repossessed house at auction in Dersingham. Conveyancing is required. What happens now?
Now that you have exchanged you must hire the services of a conveyancing solicitor as a matter of urgency as you now have a tight a fixed date to complete the transaction. An auction property should have a corresponding auction set of papers. This will likely include most,if not all of the documents that your solicitor requires. If you have purchased leasehold premises the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You must give this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds organised to complete the transaction on the set completion date.
A relative pointed out to me me that in buying a property in Dersingham there may be a number of restrictions as to what one can do in terms of external changes to a property. Is this right?
We are aware of a number of properties in Dersingham which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Dersingham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
After weeks of negotiation I have agreed a price on an apartment in Dersingham. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £150. Not long after, the property lawyer contacted me to say that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How easy is it to switch solicitor as I have to find one who is on the Bank of Ireland conveyancing panel. I was using a local conveyancing solicitor in Dersingham five minutes from me but he is not accepted by Bank of Ireland
It would be our pleasure to assist you select a conveyancing solicitor in Dersingham on the Bank of Ireland panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Dersingham. Using search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Dersingham.
Am I better off to instruct a Dersingham conveyancing solicitor who is local to the property I am hoping to buy? I have an old university friend who can carry out the legal formalities however they are based a couple of hundredkilometers drive away.
The primary upside of using a local Dersingham conveyancing practice is that you can drop in to sign documents, hand in your identification documents and pester them where appropriate. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were content that should surpass using an unknown Dersingham conveyancing solicitor just because they are Dersingham based.
We expect to complete our sale of a £450,000 maisonette in Dersingham next week. The management company has quoted £360 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Dersingham?
Dersingham conveyancing on leasehold flats typically results in fees being raised by management companies :
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Completing pre-contract questions
Where consent is required before sale in Dersingham
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 bought a 1st floor flat in Dersingham, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Dersingham with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2094
With just 69 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is 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 other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
I see that you have a search directory identifying solicitors on the mortgage company conveyancing panel. Do Dersingham conveyancing companies pay you a referral fee if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Dersingham.