I am in the process of selling my maisonette in Luton and the estate agent has just called to advise that the buyers are switching conveyancer. The excuse is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Luton ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Mortgage companies blame a rise in fraud by way of justification for the pruning – criteria have been tightened 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. Some are unaware that 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 unlikely to have any impact on this.
A friend suggested that if I am buying in Luton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Luton conveyancing searches. It is not a small report of more than thirty pages, listing and detailing significant information about Luton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Luton Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Luton Education with plans and statistics, Local Amenities and other useful information concerning Luton.
I have recentlybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Luton for a purchase of a freehold house 18 months ago. How can I establish that the property is in my name in the name of the previous owner?
The quickest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Luton conveyancing specialists.
I am purchasing a new build house in Luton with a loan from Britannia. The developers would not budge the amount so I negotiated 6k of extras instead. The sale representative suggested that I not inform my lawyer about this side-deal as it could put at risk my loan with Britannia. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In what way does the Landlord & Tenant Act 1954 impact my commercial offices in Luton and how can you help?
The 1954 Act provides protection to commercial leaseholders, giving them the a statutory right to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Luton
I am using a search engine for the phrase conveyancing in Luton it brings up many solicitorsin the vicinity. How do I determine which is the suitable property lawyer for purchase transaction?
The ideal method of choosing the right conveyancer is through a trusted testimonial, so seek the opinion of colleagues and those you trust who have acquired a property in Luton or a local estate agent or mortgage broker. Costs for conveyancing in Luton vary, so it's advisable to obtain at least four quotes from varying types of conveyancers. Dont forget to clarify what costs in the quote includes.