I am nearing exchange of contracts for my house in Frodsham and the estate agent has just text me to advise that the buyers are changing their property lawyer. The excuse is that the lender will only engage with property lawyers on their approved list. Why would a big named mortgage company only work with certain lawyers rather the firm that they want to choose for their conveyancing in Frodsham ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions blame a rise in fraud by way of justification for the reduction – criteria have been tightened 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 purchasers are unlikely to have any sway in the decision.
We are planning to acquire a house and require a conveyancing solicitor in Frodsham who is on the RBS solicitor panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS . We don't recommend any particular firms conducting conveyancing in Frodsham.
What can a local search tell me about the property I am buying in Frodsham?
Frodsham conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company for instance Xpress Legal The local search plays a central role in most Frodsham conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
My brother has encouraged me to instruct his conveyancers in Frodsham. Do I follow his advice?
No doubt the ideal way to select a conveyancing lawyer is to get recommendations from friends or family who have actually experience in using the solicitor that you are considering.
What are your top tips when it comes to choosing a Frodsham conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Frodsham conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Frodsham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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Can they put you in touch with clients in Frodsham who can give a testimonial? What volume of lease extensions have they conducted in Frodsham in the last 12 months?
I bought a leasehold flat in Frodsham, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Frodsham with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2098
You have 74 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
Our solicitor in Frodsham has requested from me personal identification documents saying that this is part of his requirements as a conveyancer on the bank Conveyancing panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the mortgage company. This is not specific to conveyancing in Frodsham