I am six weeks into the sale of my home in Elmers End and the estate agent has just e-mailed to warn that the purchasers are switching conveyancer. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading lender only engage with specific lawyers rather the firm that they want to choose for their conveyancing in Elmers End ?
Mortgage companies have always had panels of law firms that can represent them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose 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. 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. The purchasers are unlikely to have any sway in the decision.
Why is leasehold purchase conveyancing in Elmers End costs more?
Elmers End leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Elmers End. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial land in Elmers End?
Many commercial conveyancing solicitors in Elmers End will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Elmers End. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Elmers End.
For every commercial conveyancing transaction in Elmers End it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Elmers End commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Elmers End.
I'm purchasing my first flat in Elmers End with a loan from National Westminster Bank. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my solicitor about this deal as it may impact my mortgage with National Westminster Bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We expect to complete the disposal of our £375,000 flat in Elmers End in 5 days. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Elmers End?
For most leasehold sales in Elmers End conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-contract questions
Where consent is required before sale in Elmers End
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Elmers End. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Lease Extension matter before the tribunal for a Elmers End property is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 26.38 years.