We are intending to purchase a 1 bedroom apartment in East Grinstead with a mortgage. We have a East Grinstead solicitor, however the bank advise she’s not on their "panel". It appears that we have little choice but to select one of the bank panel conveyancing practices or keep our East Grinstead conveyancer as well as pay for one of their panel lawyers to act for them. This seems very unfair; can we not demand that the mortgage company use our East Grinstead property lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your East Grinstead conveyancing solicitor to apply to be on the conveyancing panel.
I am only a couple days away from an exchange on a flat in East Grinstead and my parents have transferred the exchange deposit to my conveyancing practitioner. I am now informed that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancer is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I bought my flat on 6 May and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in East Grinstead expressed confidence that it would be formalised in a couple of weeks. Are properties in East Grinstead particularly slow to register?
As far as conveyancing in East Grinstead is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timeframes can differ depending on the party submitting the application, whether there are errors and whether the Land registry have to notify any third parties. At present in the region of 80% of submission are completed in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs once the buyer is living at the property thus 'speed' is not always an essential issue but where it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
Should I be concerned by third parties that I am dealing with are suggesting an online conveyancing firm rather than a High Street East Grinstead conveyancing practice?
As is the case with lots of service providers, often referrals from family and friends can be worth their weight in gold. Nevertheless there are many parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may suggest conveyancers to appoint. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are at liberty to appoint your preferred conveyancer. However, bear in mind that the majority of mortgage providers have an approved list of law firms you must use for the mortgage related work in your conveyancing.
We're first time buyers - had an offer accepted, yet the agent told us that the seller will only go ahead if we appoint their preferred conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor who is accustomed to conveyancing in East Grinstead
It is improbable the owners are driving this. If they desire ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Try to communicate with the sellers directly and explain that (a)you are serious buyers (b)you are ready to go, with finances arranged © you are unencumbered (d) you wish to move quickly (e)however you intend to use your preferred East Grinstead conveyancing solicitors - not the ones that will earn the negotiator at the agency a commission or achieve conveyancing thresholds set by senior management.
Can you offer any advice when it comes to finding a East Grinstead conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a East Grinstead conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non East Grinstead conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
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How many lease extensions have they completed in East Grinstead in the last twenty four months? If the firm is not ALEP accredited then why not?
I acquired a split level flat in East Grinstead, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in East Grinstead with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2088
You have 63 years remaining on your lease we estimate the price of your lease extension to be between £16,200 and £18,600 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.