I am in the process of selling my home in Dunchurch and the EA has just telephoned to advise that the buyers are swapping solicitor. The excuse is that the bank will only deal with solicitors on their conveyancing panel. Why would a big named lender only engage with specific solicitors rather the firm that they want to select for their conveyancing in Dunchurch ?
UK lenders have always had panels of law firms they are content to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 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 not going to have any sway in the decision.
At what point does exchange of contracts happen for residential conveyancing in Dunchurch and am I required to be at the solicitors office?
Where you are in close proximity to one of the conveyancing solicitors in Dunchurch you are invited in to sign the paperwork. That being said, the firms we recommend provide a countrywide conveyancing service and provide just as detailed and professional a job for you when communicating with you by post or email. The signing of the contract is not the point of no return. Signing on the dotted line is necessary for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Dunchurch)to be in the office at the appropriate time.
There are numerous conveyancing solicitors in Dunchurch but how do I know who's good?
We would encourage you not to go for the lowest Dunchurch conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Is there a list of Nottingham panel solicitors in Dunchurch on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association sites. A small selection of lenders make their panel listings visible on the web. If you are looking for a Dunchurch conveyancing practitioner on the Nottingham please make the most of our tool.
Completion of my remortgage has taken place for my property in Dunchurch. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I am buying a new build flat in Dunchurch. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Dunchurch
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Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Dunchurch is the location of the property. What do you suggest?
Flying freeholds in Dunchurch are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dunchurch you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dunchurch may decide 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 property.
I have just appointed agents to market my ground floor flat in Dunchurch. Conveyancing has not commenced, but I have recently received a yearly service charge demand – what should I do?
The sensible thing to do is clear the invoice as normal because all rents and service payments should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Dunchurch - Sample of Questions you should consider before buying
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Is anyone aware of any major works in the near future that will likely increase the maintenance costs? The answer will be useful as a) areas could cause problems for the building as the common areas may begin to deteriorate where services are not paid for b) if the leaseholders have a dispute with the managing agents you will want to know about it Best to be warned whether window replacement or some other significant cost is pending that will be shared amongst the tenants and may well materially impact the level of the maintenance costs or require a specific payment.