I am in the process of selling my home in St Anns and the estate agent has just text me to advise 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 conveyancing panel. On what basis would a leading mortgage company only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in St Anns ?
Banks have always had panels of law firms that can represent them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. 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 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 impact on this.
The vendors of the property we are hoping to buy are using a conveyancing solicitor in St Anns who has suggested a lock out agreement with a deposit of 5k. Are such arrangements promoted for St Anns conveyancing transactions?
There are two main concerns with entering into any lock out agreement (occasionally referred to as an exclusivity agreement) is that it diverts attention away from progressing with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it could transpire to be unhelpful. It is not particularly popular by St Anns conveyancing lawyers for this reason. The other main negative is the extent of the remedies available - an aggrieved purchaser is very unlikely to secure an injunction to stop the owner completing the sale to an alternative purchaser, so the only remedy available under the agreement will be the reimbursement of wasted charges and, in limited situations, the additional payment of penalties.
When scouring moneysavingexpert.com for an online lawyer in St Anns, many advise that I must use a CQS assured solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing procedures via the scheme protocol Membership includes many firms who execute conveyancing in St Anns.
The deeds to my house are lost. The conveyancers who conducted the conveyancing in St Anns 5 years ago no longer exist. Will I be able to sell the house?
Assuming you have a registered title the information relating to your ownership will be documented by HMLR under a Title Number. It is possible to carry out a search at the Land Registry, find your house and get current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be obtained for a small fee.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in St Anns I like with a park and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in St Anns in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
What makes your site different to other web based conveyancing solicitors when it comes to conveyancing in St Anns?
At this site obtain a conveyancing quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in St Anns. As opposed to estate agents and many comparison sites we do not have referral arrangements with solicitors. Many agents and online brokers 'recommend' the firm that pays the most commission, not the best value conveyancing in St Anns