I am five weeks into the sale of my home in Stanford Le Hope and the estate agent has just telephoned to say that the buyers are changing their conveyancer. The excuse is that the bank will only work with solicitors on their approved list. Why would a big named lender only engage with certain lawyers rather the firm that they want to appoint for their conveyancing in Stanford Le Hope ?
Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. 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 being contacted daily by practices 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. Your buyers are not going to have any sway in the decision.
It is a dozen years since I bought my home in Stanford Le Hope. Conveyancing lawyers have just been appointed on the sale but I am unable to locate my deeds. Is this a major issue?
You need not be too concerned. First there is a possibility that the deeds will be retained by your mortgage company or they could be in the possession of the solicitor who handled your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Stanford Le Hope involves registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Stanford Le Hope I like with a park and transport links in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in Stanford Le Hope suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
What does commercial conveyancing in Stanford Le Hope cover?
Non domestic conveyancing in Stanford Le Hope covers a broad range of services, provided by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
My husband and I are first time buyers - had an offer accepted, yet the selling agent advised that the vendor will only issue a contract if we appoint their preferred conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Stanford Le Hope
It is improbable the sellers are behind this. If they require ‘a quick sale', alienating a genuine buyer is counter productive. Speak to the vendors direct and make sure they comprehend that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to use your preferred Stanford Le Hope conveyancing firm - rather thanthose that will give their negotiator at the agency a referral fee or hit his conveyancing targets demanded by HQ.
What type of premises does your Stanford Le Hope conveyancing estimates apply to?
Our conveyancing quotes are only applicable to standard domestic property in England & Wales. If you have any different needs such as industrial or agricultural property or commercial conveyancing in Stanford Le Hope please contact us to consider this further .