I am 3 weeks into the sale of my home in Fairwater and the estate agent has just e-mailed to advise that the buyers are switching conveyancer. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a leading lender only work with specific lawyers rather the firm that they want to select to handle their conveyancing in Fairwater ?
Banks have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms 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. Your buyers are unlikely to have any sway in the decision.
I am selling our home in Fairwater and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Fairwater conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed an internet conveyancing outfit rather than a conveyancing solicitor in Fairwater. We have lived in Fairwater for 4 years we know that this is a non issue. Should we contact our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You must 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 life insurance to cover that same ailment)
I have recentlyfound out that Action Conveyancing have closed. They conducted my conveyancing in Fairwater for a purchase of a leasehold apartment 18 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Fairwater conveyancing specialists.
Given that I will soon spend 450k on a terraced house in Fairwater I wish to have a conversation with the lawyer regarding theconveyancing before giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you first talking to the lawyer who will be carrying out your property ownership legalities in Fairwater.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Fairwater should be the amount on the final invoice that you end up paying.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Fairwater. I have land on a site which appears to be the perfect answer If there is a chance to get all the legals done via email that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Are there frequently found deficiencies that you come across in leases for Fairwater properties?
There is nothing unique about leasehold conveyancing in Fairwater. All leases are drafted differently and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Insurance obligations
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Norwich and Peterborough Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.
I acquired a ground floor flat in Fairwater, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Fairwater with an extended lease are worth £202,000. The ground rent is £60 yearly. The lease comes to an end on 21st October 2082
With only 57 years remaining on your lease we estimate the premium for your lease extension to span between £28,500 and £33,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.