I am selling my maisonette in Highcliffe and the EA has just telephoned to say that the purchasers are swapping solicitor. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. Why would a big named lender only work with certain solicitors rather the firm that they want to choose for their conveyancing in Highcliffe ?
Lenders have always had panels of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say 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. 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 sway in the decision.
Is there a search tool that I can utilise to discover of the solicitor carrying out my conveyancing in Highcliffe is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Skipton Building Society thus paying £192.00 in further legal bill.
You should make use of the find a lender approved solicitor tool on this page. Pick the lender and type ‘Highcliffe’ or your preferred area and you will see a number of lawyer based in Highcliffe or nearest you.
I was pointed in your direction by a few estate agents in Highcliffe to select a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to promote your lawyers over and above another?
We don’t make any commission for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're first time buyers - agreed a price, yet the estate agent told us that the seller will only proceed if we instruct their preferred lawyers as they want a ‘quick sale’. We would rather use a high street solicitor accustomed to conveyancing in Highcliffe
It is highly unlikely the vendors are driving this. If they desire ‘a quick sale', alienating a serious purchaser is is going to put the whole deal at risk. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Highcliffe conveyancing lawyers - not the ones that will provide the estate agent a introducer fee or meet his conveyancing targets set by corporate headquarters.
I wish to sublet my leasehold apartment in Highcliffe. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Highcliffe do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I acquired a 2 bed flat in Highcliffe, conveyancing was carried out December 1997. Can you work out an approximate cost of a lease extension? Comparable flats in Highcliffe with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2085
With just 59 years unexpired the likely cost is going to be between £20,900 and £24,200 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
Our offer on property in Highcliffe was accepted, but there is a chain. The owners have offered on on an apartment, however it’s not yet tied up, and has viewings of other apartments in the pipeline. I have selected a local conveyancing solicitor in Highcliffe. What should be my next step? At what point do I apply for the mortgage with Bank of Ireland?
It is understandable to have anxieties where there is an associated chain given your reluctance to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then survey, Highcliffe conveyancing search charges, etc). The first course of action is to check that your lawyer is on the Bank of Ireland conveyancing panel. Regarding the subsequent stages this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. In a buoyant market many purchasers would apply for the mortgage with Bank of Ireland and pay for the survey and only if it comes back ok would they pay their property lawyer to proceed with the conveyancing in Highcliffe.