I am selling my maisonette in Shrivenham and the EA has just telephoned to advise that the buyers are changing their solicitor. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in Shrivenham ?
Lenders have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Mortgage companies blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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 not going to have any impact on this.
Our god-son is buying a newly built flat in Shrivenham with a home loan from Lloyds. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Our bank has recommended a law firm on their panel based in Shrivenham but I would rather use a conveyancing lawyer in Shrivenham round the corner to me. Are you able to assist?
Not all Shrivenham conveyancing practices are on all banks conveyancing panel. Do make the most of the above find an approved solicitor tool to choose a Shrivenham conveyancing solicitor on the on the mortgage company panel.
I am helping my niece sell her house in Shrivenham. Does the conveyancing solicitor commission an energy performance certificate or should I organise this?
After the demise of HIPs, energy assessments was kept a required component of selling a property. An energy assessment must be to hand before the property is advertised. This is not a task that solicitors ordinarily arrange. Where you are instructing a Shrivenham conveyancing lawyer they may be able to arrange energy performance certificates given their contacts with long established Shrivenham accredited person
We had instructed solicitors located in Shrivenham on the Aldermore solicitor approved list. They have just invoiced me a further amount for handling the Aldermore mortgage. Is this an additional conveyancing fee specified by Aldermore?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancer can levy a fee for this. The charge is not dictated by Aldermore but by your Shrivenham property lawyer. Numerous firms on the Aldermore panel will levy an ‘acting for lender’ fee and others do not.
I have decided to exercise my right to buy my property in Shrivenham off the council. I have a mortgage offer with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I am buying a new build flat in Shrivenham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Shrivenham
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Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I decided to have a survey done on a house in Shrivenham prior to instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders may refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shrivenham. Conveyancing may be slightly more expensive based on your lender's requirements.