I am nearing exchange of contracts for my maisonette in Old Stratford and the EA has just e-mailed to advise that the buyers are switching solicitor. The reason given is that the mortgage company will only work with property lawyers on their conveyancing panel. Why would a leading mortgage company only engage with specific lawyers rather the firm that they want to choose to handle their conveyancing in Old Stratford ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few 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 many years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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. Your buyers are not going to have any sway in the decision.
Me and my partner are about to exchange buying a property in Old Stratford but as a consequence of damage from some water damage at the property I have was able negotiate compensation from the vendor of £3k by way of a adjustment in the price. I had intended this to be addressed as part of amending the contract but UBS are not allowing this. Why were they involved?
Any property lawyer that is on a UBS conveyancing panel is duty bound to advise UBS of any amendments to the purchase price. If you prohibit your property lawyer to disclose the reduction to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancer for your conveyancing in Old Stratford.
Can your site be used to recommend a Conveyancing solicitor in Old Stratford even where I’m not purchasing or disposing of a house, for instance if I want to buy a shop in Old Stratford with a mortgage from The Royal Bank of Scotland?
The service is mainly utilised to locate domestic conveyancing solicitors in Old Stratford but we have set out towards the end of this page a selection of Old Stratford commercial conveyancing firms. You will need to make contact with the solicitors directly to see if they are also authorised to represent The Royal Bank of Scotland
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Old Stratford I like with open areas and railway links in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Old Stratford in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years 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 a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
My company is hoping to lease a unit on the high street. Can you recommend conveyancers offering no-sale-no charges for non-domestic conveyancing in Old Stratford for less than £1,200?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Old Stratford, including the sale and purchase of businesses as well as simply property. Whether you are looking to purchase or sell a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right solicitor. Regarding the costs this will depend on the structure and heads of terms of the deal. Let us have your details or call so as to enable us to furnish you with comprehensive commercial conveyancing calculation.
My father has suggested that I appoint his conveyancing solicitors in Old Stratford. Should I use them?
No doubt the ideal way to select a conveyancing solicitor is to seek referrals from friends or family who have previously instructed the conveyancer you're considering.