I am five weeks into the sale of my flat in Eltham and the estate agent has just telephoned to say that the buyers are changing their law firm. I am told that this is due to the fact that the lender will only engage with solicitors on their approved list. On what basis would a major lender only deal with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Eltham ?
Lenders have always had an approved set of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been stiffened 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. Plenty of firms 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 impact on this.
My partner and I have recently purchased a property in Eltham. We have since encountered a number of problems with the property which we consider were missed in the conveyancing searches. What action can we take? Can you clarify the type of searches that should have been carried out for conveyancing in Eltham?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Eltham. Conveyancing searches and due diligence initiated during the legal transfer of property are supposed to help avoid problems. As part of the process, a seller answers a form known as a Seller’s Property Information Form. If the information turns out to be inaccurate, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Eltham.
Should commercial conveyancing searches disclose planned roadworks that could affect a commercial estate in Eltham?
Its becoming the norm that commercial conveyancing solicitors in Eltham will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Eltham. The search result provides 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 Eltham.
For every commercial conveyancing transaction in Eltham it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Eltham commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Eltham.
How does conveyancing in Eltham differ for newly converted properties?
Most buyers of new build residence in Eltham come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because developers in Eltham typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Eltham or who has acted in the same development.
I opted to have a survey completed on a house in Eltham in advance of appointing solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies may refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Eltham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Eltham to see if the conveyancing costs will increase in light of this.
What is different about your site and other online quote calculators when it comes to conveyancing in Eltham?
At this site get a conveyancing quote from a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Eltham. Unlike many estate agents and many comparison sites we do not operate referral deals with solicitors. Some agents and online brokers 'recommend' solicitors paying the most per referral, rather than the best value conveyancing in Eltham