I am nearing exchange of contracts for my apartment in Shefford and the EA has just telephoned to warn that the buyers are changing their solicitor. I am told that this is due to the fact that the bank will only work with solicitors on their approved list. Why would a major lender only engage with certain solicitors rather the firm that they want to appoint for their conveyancing in Shefford ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions blame a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. 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 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 not going to have any impact on this.
We see that you have a post code search directory identifying solicitors on the HSBC conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Shefford?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Shefford.
A relative advised me that if I am purchasing in Shefford I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Shefford conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Shefford around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Shefford Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Shefford Education with plans and statistics, Local Amenities and other useful information about Shefford.
I used Action Conveyancing several years ago for my conveyancing in Shefford. I now require my papers but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Shefford of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build flat in Shefford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Shefford
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Due to the encouragement of my in-laws I had a survey completed on a house in Shefford ahead of instructing solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Shefford. Conveyancing may be slightly more expensive based on your lender's requirements.