I am selling my apartment in South Acton and the estate agent has just telephoned to say that the buyers are appointing a new property lawyer. The reason given is that the lender will only work with property lawyers on their approved list. Why would a major mortgage company only deal with specific solicitors rather the firm that they want to select for their conveyancing in South Acton ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks justify this action to a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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. Plenty of firms 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. The buyers are unlikely to have any sway in the decision.
I am acquiring a house mortgage free in South Acton. I have been residing for the last 20 years in South Acton. Conveyancing searches are a lot of money. Given that I have knowledge of the road and vicinity very well must I have all the conveyancing searches?
Provided that you do not need a mortgage, then all but one or two of the South Acton conveyancing searches are optional. Your conveyancer will try and sway you, perhaps strongly, that you should have searches completed, but he is duty bound to take that path of guidance. One thing to consider; if you are intend to dispose of the house at a future date, it may be of interest to your future purchaser what the searches determine. Sometimes premises with functional issues can still reveal adverse search results. A good conveyancing solicitor in South Acton should provide you some constructive advice in this regard.
I own a freehold property in South Acton but still pay rent, why is this and what is this?
It is rare for properties in South Acton and has limited impact for conveyancing in South Acton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I need some fast conveyancing in South Acton as I am under pressure to complete within 3 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not taking a home loan you have the choice not to have searches carried out although no law firm would suggest that you don't. Drawing on our experience of conveyancing in South Acton the following are instances of what can be revealed and therefore affect future saleability: Enforcement Notices, Outstanding Charges, Overdue Grants, Road Schemes,...
I used Stirling Law several years past for my conveyancing in South Acton. I now require my file however the law firm has closed. What do I do?
Do contact 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 South Acton of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
We're new to the buying process - agreed a price, but the estate agent told us that the owners will only move forward if we instruct their preferred solicitors as they want a ‘quick sale’. My instinct tells me that we should use a local solicitor who is accustomed to conveyancing in South Acton
We suspect that the owner is not behind this request. Should the vendor desire ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you are going to instruct your own,trusted South Acton conveyancing solicitors - as opposed tothose that will earn the estate agent a introducer fee or hit his conveyancing figures set by head office.