I am in the process of selling my home in Hunstanton and the EA has just telephoned to advise that the purchasers are switching conveyancer. I am told that this is due to the fact that the lender will only engage with solicitors on their conveyancing panel. Why would a leading mortgage company only engage with certain law firms rather the firm that they want to appoint to handle their conveyancing in Hunstanton ?
Banks 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 over 25 years.
Lending institutions justify this action to a rise in fraud by way of justification for the pruning – 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 hearing daily from firms that have been removed from panels. Some do not even realise 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 not going to have any sway in the decision.
How does conveyancing in Hunstanton differ for newly converted properties?
Most buyers of new build property in Hunstanton approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because builders in Hunstanton usually acquire the site, 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 property lawyers 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 Hunstanton or who has acted in the same development.
I have been pointed in your direction by a number of estate agents in Hunstanton to locate a solicitor using your seach tool. What’s the financial advantage for Estate Agents to recommend your site over and above a competitor’s?
We don’t give any referral fee for directing people in our direction. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My husband and I are 14 days into a residential purchase having been referred to solicitors by the estate agent to perform conveyancing in Hunstanton. I am am very dissatisfied with the quality of service. Can you help me find new solicitors?
They would need to be very poor in order to consider replacing them. Has your loan offer been issued? In the event that it has you need to inform them of the new contact details and ensure the mortgage documents are re-issued. Your solicitor ideally needs to be on the banks panel to avoid escalating charges and complications. So that should be your first question of the new solicitors. The search tool can assist you in finding a lender approved lawyer for your conveyancing in Hunstanton
I only have 72 years left on my flat in Hunstanton. I now want to extend my lease but my landlord is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the landlord. On the whole an enquiry agent may be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Hunstanton.
Hunstanton Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders have control and although a managing agent is frequently employed where the building is larger than a house conversion, the managing agent employed by the leaseholders. What prohibitions are contained in the Hunstanton Lease? It is important to be aware if a new roof is being put on or some other significant cost is coming up to be shared by the leasehold owners and could well materially impact the level of the service fees or necessitate a one off payment.
I previously told by my bank that their approved lawyers operate no sale no fee basis for conveyancing in Hunstanton. Our purchase aborted nevertheless the conveyancers want search fees! They say the fees are seperate!
Hunstanton conveyancing search fees are separate expenses not solicitors fees as these are payable to independent parties.