I am selling my home in Lower Sunbury and the estate agent has just text me to advise that the buyers are swapping law firm. The reason given is that the mortgage company will only engage with property lawyers on their approved list. Why would a big named mortgage company only deal with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Lower Sunbury ?
Banks have always had panels of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Mortgage companies attribute this action to a rise in fraud as the reason for the reduction – criteria have been tightened 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 claims that 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 buyers are not going to have any impact on this.
Can I use your services to recommend a Conveyancing solicitor in Lower Sunbury even where I’m not buying or disposing of a house, for example if I wish to acquire a shop in Lower Sunbury with a mortgage from TSB?
The service is primarily there to select residential conveyancing solicitors in Lower Sunbury but we have recorded towards the end of this page a few Lower Sunbury commercial conveyancing firms. You will need to enquire with the firm directly to establish if they can also act for TSB
I am helping my mother sell her property in Lower Sunbury. Will the solicitor order an energy performance certificate or do I organise this?
After the demise of Home Information Packs, EPC’s became a required component of moving property. An energy performance certificate needs to be to hand prior to the property being placed on the market. It is not something that lawyers ordinarily arrange. If you are instructing a Lower Sunbury conveyancing solicitor they may be willing to arrange energy assessments due to their relationships with reputable Lower Sunbury accredited person
is it true that all Lower Sunbury conveyancing solicitors on the TSB conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
I currently have a mortgage with Virgin Money for my property in Lower Sunbury. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Virgin Money must be informed of your intention before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel lawyer.
Various internet forums that I have visited warn that are the number one cause of hinderance in Lower Sunbury house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Lower Sunbury.
Are there restrictive covenants that are commonly identified during conveyancing in Lower Sunbury?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Lower Sunbury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Lower Sunbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Lower Sunbury
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?