I am nearing exchange of contracts for my apartment in Lees and the EA has just text me to warn that the purchasers are appointing a new conveyancer. The excuse is that the lender will only engage with property lawyers on their conveyancing panel. Why would a big named lender only work with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Lees ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been narrowed 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. Plenty of firms 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. The buyers are not going to have any impact on this.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who did the conveyancing in Lees 4 years ago are no longer around. Will I be able to sell the house?
As long as you have a registered title the information relating to your proprietorship will be recorded by HMLR under a Title Number. It is easy to execute a search at the Land Registry, find your property and get current copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
I am purchasing my first flat in Lees benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not disclose to my conveyancer about the deal as it may put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £305k and found one close by in Lees I like with a park and station in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Lees suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Am I best advised to instruct a Lees conveyancing lawyer based in the location that I am hoping to buy? I have an old university friend who can conduct the legal work but her office is 400kilometers away.
The benefit of a high street Lees conveyancing firm is that you can pop in to sign paperwork, deliver your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a plus. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were content that must surpass using an unfamiliar Lees conveyancing lawyer just because they are round the corner.
Whilst your website is a good idea there are many lawyers listed near Lees being on the bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the lender approved panel?
We do not recommend specific Lees firms as the right Lees conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Lees knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..