I am nearing exchange of contracts for my ground floor flat in South Wimbledon and the estate agent has just telephoned to say that the buyers are switching law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. On what basis would a major mortgage company only work with specific solicitors rather the firm that they want to choose for their conveyancing in South Wimbledon ?
Banks have always had panels of law firms that can represent them, but in the last few 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.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to maintain. 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. The purchasers are not going to have any sway in the decision.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in South Wimbledon?
Two types of professional can conduct conveyancing in South Wimbledon namely CLC regulated conveyancers or solicitors. The two can administer the legal services that required to complete the sale or purchase of property. They are both duty bound to carry out South Wimbledon conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be professionally conducted and that the requirements and steps should be correctly followed.
We had appointed conveyancing lawyers based in South Wimbledon on the Coventry BS solicitor approved list. They are now charging me a supplemental charge for the legal aspects of the Coventry BS mortgage. Is this an additional conveyancing fee set by Coventry BS?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer may levy a fee for this. This charge is not set by Coventry BS but by your South Wimbledon lawyer. Some firms on the Coventry BS panel will levy an ‘acting for lender’ fee and others do not.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Co-operative are being a right pain. The South Wimbledon solicitor who is on the Co-operative conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Do commercial conveyancing searches disclose proposed roadworks that may impact a commercial land in South Wimbledon?
Its becoming the norm that commercial conveyancing solicitors in South Wimbledon will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in South Wimbledon. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in South Wimbledon.
For each commercial conveyancing transaction in South Wimbledon it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to South Wimbledon commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in South Wimbledon.
It has been five months since my purchase conveyancing in South Wimbledon completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 residence 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 am buying a new build apartment in South Wimbledon. 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 conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in South Wimbledon
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants.
There are plenty of houses in South Wimbledon on private roads. I am buying one such house. What would be the pros and cons of purchasing a house on a private road?
South Wimbledon conveyancing firms will be well versed in conveyancing propertieson unadopted roads. Your conveyancing practitioner will review the Land Registry data to identify any rights or liabilities. It is possible that there is a management company (wholly owned by residents) that proprietors pay into to maintain the road. Where there is one, the road will likely be maintained and look better than publicly owned.