I am one month into the sale of my apartment in Groby and Ratby and the estate agent has just e-mailed to say that the purchasers are swapping law firm. I am told that this is due to the fact that the bank will only engage with solicitors on their conveyancing panel. Why would a big named lender only deal with specific solicitors rather the firm that they want to choose for their conveyancing in Groby and Ratby ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Santander, 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 reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 not going to have any impact on this.
We're in Groby and Ratby, First timers buying with a mortgage (lender is Co-operative , and our solicitor is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am assisting my aunt sell her property in Groby and Ratby. Does the solicitor order the energy performance certificate or should I organise this?
Following the abolition of HIPs, EPC’s became a mandatory element of selling a property. An energy performance certificate should be commissioned in advance of the property being advertised. It is not as aspect of the sale process that conveyancers ordinarily organise. Where you are using a Groby and Ratby conveyancing practitioner they might be willing to arrange energy performance certificates due to their relationships with reputable local energy assessors
Does a directory service exist listing Co-operative panel solicitors in Groby and Ratby on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. Very few lending institutions make their panel listings available on the web. Where you are seeking to appoint a Groby and Ratby property lawyer on the Co-operative please use our tool.
Is it the case that all Groby and Ratby conveyancing solicitors on the Coventry BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be regulated by the SRA. Some lenders do allow licenced conveyancers on their panel and in that case the firms would be overseen by the Council of Licensed Conveyancers.
We are downsizing from our house in Groby and Ratby and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Groby and Ratby lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using an internet conveyancing firm as opposed to a conveyancing solicitor in Groby and Ratby. Having lived in Groby and Ratby for many years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should enquire of 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 health insurance to cover that same ailment)
About to purchase a new build flat in Groby and Ratby. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Groby and Ratby
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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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. 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.
I am on look out for some leasehold conveyancing in Groby and Ratby. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Groby and Ratby - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a garden flat in Groby and Ratby, conveyancing formalities finalised January 2008. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Groby and Ratby with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 2100
With just 75 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.