I am nearing exchange of contracts for my apartment in Stockbridge and the estate agent has just called to advise that the buyers are switching conveyancer. The reason given is that the lender will only engage with solicitors on their conveyancing panel. On what basis would a leading mortgage company only work with certain lawyers rather the firm that they want to appoint for their conveyancing in Stockbridge ?
Lenders have always had panels of law firms that can act for them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks point to the increase in fraud as the reason for the cull – 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 hearing daily from firms that have been removed from panels. Plenty of firms 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 buyers are unlikely to have any sway in the decision.
After reviewing mumsnet.com for an online solicitor in Stockbridge, most post that I must use a CQS accredited lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard 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 processes through the scheme protocol Membership covers many firms who perform conveyancing in Stockbridge.
My bid for a property was accepted at auction in Stockbridge. Conveyancing is necessary. What are my next steps?
Given that you are now legally bound yourself to purchase you must retain a conveyancing solicitor as a matter of urgency as you are facing a pending a fixed date to complete the conveyancing. An auction property will have an associated legal pack. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You need to give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in order to complete on the on the contractual date .
We previously instructed conveyancing lawyers located in Stockbridge on the HSBC solicitor panel. They have just invoiced me a further amount for the legal aspects of the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your solicitor is entitled to levy a fee for this. The charge is not dictated by HSBC but by your Stockbridge solicitor. Plenty of firms on the HSBC panel will levy an ‘acting for lender’ fee and others do not.
Can I be sure that the Stockbridge conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Stockbridge getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor carrying out your transaction.
My wife and I own a terraced Victorian property in Stockbridge. Conveyancing practitioner represented me and Britannia. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stockbridge and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing solicitor who completed the work.
In sourcing the world wide web for the term conveyancing in Stockbridge it shows results of many solicitorsin the area. How do I determine which is the suitable property lawyer for me?
The best way of choosing a suitable conveyancer is through a personal referral, so ask colleagues and those you trust who have acquired a property in Stockbridge or the reputable estate agent or financial adviser. Charges for conveyancing in Stockbridge differ, so it's sensible to obtain at least four fee calculations from different conveyancers. Dont forget to clarify what costs in the quote includes.
Estate agents have just been given the go-ahead to market my garden flat in Stockbridge.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – Do I pay up?
The sensible thing to do is clear the service charge as normal given that all rents and service invoices will be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially