I am progressing with the sale of my ground floor flat in Riddlesdown and the estate agent has just text me to advise that the purchasers are switching property lawyer. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to choose for their conveyancing in Riddlesdown ?
Banks have always had an approved set of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to maintain. 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 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 buyers are unlikely to have any impact on this.
Can you explain why leasehold purchase conveyancing in Riddlesdown is more expensive?
Riddlesdown leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
We just had an offer accepted to purchase with Loughborough BS. I visited 3 or 4 local companies yet am unable to find a Riddlesdown conveyancing firm on the Loughborough BS approved list. Could you assist?
Please do make the most of the search tool on this site. Pick the building society and type Riddlesdown or your preferred area and you will see numerous solicitors based in Riddlesdown or nearest you.
I am buying a 3 bedroom semi in Riddlesdown. The intention is to convert the garage to a playroom at the property.Will legal work on the property involve investigations to determine if these works were previously refused?
Your property lawyer will review the registered title as conveyancing in Riddlesdown can sometimes identify restrictions in the title documents which prevent categories of works or need the consent of a 3rd party. Certain additions require local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
Two weeks ago we had a mortgage agreed in principle with Principality. Riddlesdown conveyancing solicitors have been appointed. How long does it take for Principality to forward the offer to the property lawyer?
Some lenders take longer than others. Have Principality completed the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am due to exchange contracts on my flat. I had a double glazing fitted in August 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, RBS are being a right pain. The Riddlesdown solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Riddlesdown is the location of the property. Is there any guidance you can impart?
Flying freeholds in Riddlesdown are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Riddlesdown you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Riddlesdown may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What type of premises does your Riddlesdown conveyancing estimates apply to?
Our conveyancing quotes are only applicable to standard domestic homes in England & Wales. If you have any different requirements for example industrial or agricultural land or commercial conveyancing in Riddlesdown you should telephone us to consider your requirements .