I am selling my flat in Shropshire and the estate agent has just e-mailed to advise that the purchasers are appointing a new conveyancer. The excuse is that the mortgage company will only work with property lawyers on their approved list. On what basis would a big named mortgage company only deal with certain lawyers rather the firm that they want to select to handle their conveyancing in Shropshire ?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been narrowed 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 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 not going to have any impact on this.
I am aiming to move house in December. Should my conveyancing solicitor update the removal company on the day of completion. On a separate note, can you put forward a removal company in Shropshire. Conveyancing lawyer was chosen before I stumbled across this site.
On the afternoon of completion you will need to pick up the house keys from the estate agent however this should only be done once the previous owners solicitors advise the agent that they acknowledge receipt of the completion payment and the keys can be collected. You can inform the removal men that you are ready to move in. As a matter of policy we do not suggest a particular removal organisation but can assist you in finding a residential property solicitor in Shropshire or a lawyer with expertise in conveyancing in Shropshire.
When it comes to mortgage companies such as Coventry BS, do Shropshire property lawyers incur a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Is it the case that all Shropshire solicitor practices on the TSB conveyancing panel are governed by the SRA?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do list licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
three months have elapsed since my purchase conveyancing in Shropshire concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey done on a house in Shropshire in advance of retaining conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some banks tend not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Shropshire. Conveyancing will be smoother if you use a solicitor in Shropshire especially if they are acquainted with such properties in Shropshire.
I am a sole trader looking to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering fixed costs for commercial conveyancing in Shropshire for under 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Shropshire, including the sale and acquisition of businesses as well as simply property. Whether you are intending to acquire or dispose of a shop, pub, restaurant, office, retail premises or a complete business we will find you the right solicitor. As for the fees this will depend on the structure and terms of the deal. Let us have your details or phone us so that we can furnish you with a detailed commercial conveyancing quote.
Can you provide any advice for leasehold conveyancing in Shropshire with the aim of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Shropshire can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers. You believe that you know the number of years left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Shropshire leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord consenting to such changes. If you fail to have the consents in place you should not communicate with the landlord without checking with your conveyancer before hand.
Shropshire Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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Make sure you enquire if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in Shropshire. If you love the flatin Shropshire yet your dog can’t live with you then you will be presented with a difficult decision. Is the freehold owned collectively by the tenants? You should want to discover as much as possible about the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the tidiness of the common parts. You should not be afraid to ask other tenants what they think of them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what it includes.