I am five weeks into the sale of my house in Stoke Poges and the EA has just e-mailed to warn that the buyers are swapping solicitor. The excuse is that the bank will only engage with solicitors on their approved list. On what basis would a leading lender only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in Stoke Poges ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. 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 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. Your purchasers are not going to have any sway in the decision.
My wife and I are intent on selling our property in Stoke Poges and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the buyers used an internet conveyancing practice rather than a conveyancing solicitor in Stoke Poges. We have lived in Stoke Poges for three years we know of no issue. Should we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Stoke Poges differ for newly converted properties?
Most buyers of new build or newly converted property in Stoke Poges approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Stoke Poges usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Stoke Poges or who has acted in the same development.
As co-executor for the will of my aunt I am selling a property in Swansea but I am based in Stoke Poges. My lawyer (approximately 300 miles from merequires that I execute a stat dec before completion. Could you suggest a conveyancing lawyer in Stoke Poges to attest this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Stoke Poges
I own a leasehold flat in Stoke Poges. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Stoke Poges who acted for me is not around. Do I pay?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Stoke Poges conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Stoke Poges Leasehold Conveyancing - A selection of Queries before buying
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Are there any major works in the near future that could add a premium to the service fees? If a Stoke Poges lease has fewer than eighty years it will affect the marketability of the apartment. It is worth checking with your mortgage company that they are content with the length of the lease. A short lease means that you will almost definitely require a lease extension at some point and it is worth finding out how much this would cost. Remember, in most cases you will be required to have been the owner of the residence for two years in order to be entitled to carry out a lease extension.
My wife and I have chosen a Stoke Poges conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the terms and conditions that they are not overseen by the Financial Conduct Authority. Need I be concerned or is that usually the case with conveyancing practitioner?
We can't see why they should be. Most solicitor don't lend money. You should check that they are regulated by the SRA, who set specific stipulations in place on amounts sitting on client account.