I am selling my flat in Edenbridge and the estate agent has just called to warn that the buyers are changing their solicitor. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a major mortgage company only work with specific law firms rather the firm that they want to choose for their conveyancing in Edenbridge ?
Banks have always had panels of law firms they are content to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to reveal 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. Some 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. The purchasers are not going to have any impact on this.
I am purchasing a newly constructed duplex in Edenbridge and my conveyancer is informing me that she has to the bank to disclose incentives from the builder. I am under pressure to exchange and I have no desire to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Edenbridge last September but my buyer keeps SMS messaging every few hours to say his solicitor is waiting to hear from mine. What should my lawyer have done following completion?
Post completion of your disposal your solicitor is committed to forward the transfer documentation and all of the paperwork to the buyer’s conveyancer. If applicable, your conveyancer must also send confirmation that the mortgage has been paid off to the purchasers solicitors. There are no post completion formalities specific conveyancing in Edenbridge.
I have been told that property searches are the main cause of hinderance in Edenbridge conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Edenbridge.
Just had an offer accepted on a new build apartment in Edenbridge. Conveyancing is necessary evil 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 conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Edenbridge
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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. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
My brother has recommend that I appoint his conveyancers in Edenbridge. Should I choose my own conveyancer?
No doubt it’s preferable to select a conveyancing practitioner is to seek recommendations from friends or family who have actually experience in using the conveyancer that you are are thinking of instructing.