I am not in a position to travel far from Laindon. Can you please explain the reason why all Laindon solicitors are not on all mortgage company panels?
Pre- 2008 most banks displayed an attitude to risk which is different from today. The Financial Services Authority in 2010 carried out a thematic review into fraud which concluded: know the solicitors on your panel. Accordingly, mortgage companies have subsequently requiredmore data from law firms about their operations and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Thousands of firms have been removed from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of volume of transactions the lenders insisted on.
The Laindon conveyancing solicitors that just started acting on my purchase in Laindon have without warning shut down. They were on acting for me because I needed a solicitor on the Barclays conveyancing panel and my preferred Laindon lawyer was not. I paid them funds in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
A relative advised me that in purchasing a property in Laindon there could be a number of restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are anumerous of properties in Laindon which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Laindon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We previously chose conveyancers based in Laindon on the Barclays solicitor approved list. They are now charging me a supplemental fee for the legal aspects of the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner may levy a fee for this. The fee is not dictated by Barclays but by your Laindon conveyancing practitioner. Plenty of firms on the Barclays panel will quote ’dealing with mortgage’ fee but many firms include it on their overall fee.
I am selling my house. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Principality are being pedantic. The Laindon solicitor who is on the Principality conveyancing panel is saying indemnity insurance will be fine but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
As co-executor for the estate of my father I am disposing of a property in Monmouth but reside in Laindon. My lawyer (based 200 miles awayhas requested that I sign a statutory declaration ahead of completion. Could you suggest a conveyancing practitioner in Laindon who can witness this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are located in Laindon
I am hoping to exchange soon on a ground floor flat in Laindon. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Laindon should include some of the following:
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Repair and maintenance of the flat Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? An explanation concerning the obligations as set out in the lease to to contribute towards maintenance costs - with regard to both the building, and the wider rights a lessee enjoys Ground rent - what is due and what the invoice dates are, and be on notice if this is subject to change What options are available to the landlord where you breach a clause of your lease?
Laindon Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
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How long is the Lease? Does the lease contain onerous restrictions? Is anyone aware of any major works on the horizon that could increase the maintenance charges?
I have just appointed agents to market my 2 bed apartment in Laindon.Conveyancing is yet to be initiated however I have recently received a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as you normally would because all rents and maintenance charges should be apportionedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially