I am nearing exchange of contracts for my maisonette in Seaton and the estate agent has just e-mailed to warn that the purchasers are switching property lawyer. The reason given is that the lender will only engage with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with certain law firms rather the firm that they want to choose for their conveyancing in Seaton ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lenders attribute this action to a rise in fraud by way of justification for the pruning – 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 says 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 not going to have any impact on this.
We are soon to exchange on the purchase of a house in Seaton but as a consequence of damage from the recent storms I have managed to agree recompense from the vendor of six thousand pounds taking the form of a reduction in the price. This was going to be dealt with as part of amending the contract yet Aldermore will not agree to this. Should they have been approached?
Your conveyancing practitioner being on the Aldermore approved list is required to inform Aldermore of any amendments to the sale price. If you were to refuse your conveyancing practitioner to report the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancer for your conveyancing in Seaton.
My mortgage company has recommended solicitors on their panel based in Seaton but I would rather use a conveyancing lawyer in Seaton round the corner to me. Are you able to help?
The minority of Seaton conveyancing practices are listed all lender’s conveyancing panel. Please make use of our search tool to choose a Seaton conveyancing firm on the on the mortgage company panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Seaton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Seaton. 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…’
I am downsizing from my home. My former solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Seaton if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Seaton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
What are your top tips when it comes to choosing a Seaton conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Seaton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Seaton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
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If they are not ALEP accredited then what is the reason?
I invested in buying a split level flat in Seaton, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Seaton with an extended lease are worth £171,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2104
With just 79 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.