I can't travel far from Lower Sunbury. Please spell out why all Lower Sunbury solicitors are not on all lender panels?
Pre- 2008 most banks displayed an attitude to risk which is different from today. The Financial Services Authority in 2010 conducted a thematic review into fraud which concluded: know the lawyers on your panel. As a result, lenders have subsequently soughtmore data from law firms about their operations and the staff who work for 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 an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum amount of transactions the lenders insisted on.
I am considering applying for a Yorkshire BS mortgage for purchase of a newly converted (under development) in Lower Sunbury with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire BS ?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The conveyancers who dealt with the conveyancing in Lower Sunbury 5 years ago have long since closed. What do I do?
These day there are duplicates made of almost everything, and your conveyancer will know exactly where to find all the suitable paperwork so you may buy or sell your property without a hitch. If duplicates are not available, your lawyer may be able to put in place insurance or indemnities protecting you against future claims on the premises.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Lower Sunbury I like with open areas and railway links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Lower Sunbury suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I need to find a conveyancing solicitor for residential conveyancing in Lower Sunbury. I've land on a site which seems to have the perfect solution If it is possible to get all the legals done via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My husband and I are buying a first floor flat in Lower Sunbury. At the point of instructing our conveyancing practitioner, they assured us that they were on all major UK lender panels. The financial adviser emailed today to say that they don't seem to be on the RBS approved list. If it turns out to be true, what should we do? Do we simply pick a new solicitor that is on their approved list or do we pay for dual representation, with RBS selecting their own preferred conveyancer.
When buying a property with the benefit of a mortgage it is conventional for the buyer’s solicitors to also represent the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to fulfill. Some banks now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact RBS and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on RBS's conveyancing panel as you are at liberty to use your preferred Lower Sunbury lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.