I can't travel far from East Bedfont. Is there a reason why all East Bedfont conveyancers aren't automatically on all mortgage company panels?
Before the recession most banks exhibited an attitude to risk which is different than today. The financial regulator in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the solicitors on your panel. Accordingly, mortgage companies have since requiredmore information from law firms about their processes and the individuals employed by them and set certain criteria such as completing a minimum volume of transactions. Thousands of firms have been excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the criteria of amount of transactions the mortgage companies set.
I am close to exchanging contracts on the sale of our house in East Bedfont and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the buyers used a nationwide conveyancing practice as opposed to a conveyancing solicitor in East Bedfont. Having lived in East Bedfont for 5 years we know of no issue. Do we contact our local Authority to get clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am buying a new build flat in East Bedfont. Conveyancing is a frightening process 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 may expect your new-build leasehold conveyancing in East Bedfont
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Should I be suspicious about 3rd parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street East Bedfont conveyancing firm?
As with lots of service providers, often input from relatives can be extremely useful or valuable. Yet there are lots of parties with a keen interest in a conveyancing matter; estate agents, financial adviser and banks may recommend lawyers to instruct. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there exists a financial incentive behind the endorsement. You have the right to choose your preferred lawyer. However, bear in mind that some banks have an approved list of law firms you are obliged to use for the mortgage related work in your home move.
My husband and I are first time buyers - had an offer accepted, yet the agent told us that the owners will only proceed if we use their preferred lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a family conveyancer accustomed to conveyancing in East Bedfont
We suspect that the owner is unaware of this ultimatum. Should the seller require ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Try to communicate with the vendors directly and make the point that (a)you are serious purchasers (b)you are ready to go, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you intend to instruct your own,trusted East Bedfont conveyancing solicitors - as opposed tothe ones that will give the estate agent a kickback or meet his conveyancing thresholds set by head office.
Why is it not possible to complete my conveyancing in East Bedfont on Easter Monday?
Because on completion the sale price will be transferred electronically between the banks of the purchaser and seller's solicitor and currently this can only take place on a working day. So you can't complete on a saturday or sunday either.