I am selling my house in Mitcham and the estate agent has just text me to warn that the buyers are changing their property lawyer. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major lender only deal with certain lawyers rather the firm that they want to select to handle their conveyancing in Mitcham ?
Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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. The buyers are not going to have any impact on this.
My Conveyancer in Mitcham has never been on on the Platform Home Loans Ltd Approved Panel. Can I still use my family solicitor even though they are excluded from the Platform Home Loans Ltd panel?
Your options are as follows:
- Complete the purchase with your existing Mitcham lawyers but Platform Home Loans Ltd will need to retain a lawyer on their list of acceptable firms. This will result in additional overall conveyancing charges as well as result in frustration.
- Get a new solicitor to act in the conveyancing, remembering to check they are Persuade your lawyer to use their best endeavours to join the Platform Home Loans Ltd conveyancing panel
I'm buying my first flat in Mitcham with a loan from Skipton Building Society. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The sale representative advised me not inform my conveyancer about the deal as it would 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.
Is it best to instruct a Mitcham conveyancing practitioner in close proximity to the house I am buying? An old friend can deal with the legal work however her office is 400miles drive away.
The benefit of a high street Mitcham conveyancing practice is that you can pop in to sign paperwork, present your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were content that must surpass using an unfamiliar Mitcham conveyancing lawyer just because they are based in the area.
If all goes to plan we aim to complete the disposal of our £275,000 flat in Mitcham in 10 days. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Mitcham?
For most leasehold sales in Mitcham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-exchange enquiries
Where consent is required before sale in Mitcham
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Mitcham. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Mitcham conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Mitcham property is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case was in relation to 2 flats. The remaining number of years on the lease was 86.11 and 60.64.
I have been searching for Mitcham conveyancing quotes online. Can I be assured that all the Mitcham practices that are identified on your site are on the bank conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Mitcham conveyancing solicitor being on the bank conveyancing panel is incorrect.