I am nearing exchange of contracts for my ground floor flat in Selsdon and the EA has just text me to advise that the purchasers are changing their solicitor. The reason given is that the lender will only engage with property lawyers on their approved list. Why would a big named mortgage company only deal with specific law firms rather the firm that they want to appoint for their conveyancing in Selsdon ?
Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as HSBC, have reviewed 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 cull – criteria have been stiffened 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 says 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. Your purchasers are unlikely to have any sway in the decision.
Just bought a semi-detached house in Selsdon , how long will it take for the Land Registry to record my ownership? My Selsdon conveyancing solicitor has been painfully slow, so I want to be certain the registration formalities are addressed.
As far as conveyancing in Selsdon is concerned, registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timescales can adjust depending on the party submitting the application, whether there are errors and if the Land registry need to notify any third persons or bodies. Currently roughly three quarters of such applications are fully dealt with within two weeks but some can be subject to longer delays. Registration takes place after the buyer is living at the premises therefore an expedited registration is not always top priority but if it is urgent that the the registration takes place urgently then you or your solicitor can contact the land registry and explain the circumstances.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Selsdon I like with a park and station in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Selsdon in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Hoping to buy a property located in Selsdon and I am already nervous. I couldn't find anything specific about Selsdon. Conveyancing will be needed in due course but do you know about the Selsdon area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Selsdon. In the meantime here are some basic statistics that we found
I need to find a conveyancing solicitor for leasehold conveyancing in Selsdon. I have stumble across a site which seems to have the perfect solution If it is possible to get all the legals completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What can I do where I am not happy with the solicitor who did our conveyancing in Selsdon?
Occasionally the level of service you receive is not as you expect, and unfortunately every so often things do go wrong. That being said there is recourse if you were not happy with your conveyancing in Selsdon. This varies from trying to resolve matters directly with them, through to reporting a conveyancing practitioner to their regulator. If you remain unhappy you may consider getting in touch with the Legal Ombudsman.