I am five weeks into the sale of my house in Stratford and the EA has just text me to say that the buyers are appointing a new law firm. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a leading lender only deal with certain lawyers rather the firm that they want to choose for their conveyancing in Stratford ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been stiffened 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. 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 buyers are not going to have any sway in the decision.
How up to date is your database of Stratford solicitors on the RBS conveyancing panel? Do RBS send you an updated list?
Stratford conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
We are selling our house in Stratford and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Stratford. Having lived in Stratford for 4 years we know of no issue. Should we contact our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. 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 ailment)
four months have elapsed following my purchase conveyancing in Stratford completed. I have checked the Land Registry website which shows that I paid £200,000 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 premises 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.
My cousin has recommend that I use his conveyancers in Stratford. Do I take his guidance?
Much as we are happy to recommend a Stratford conveyancing lawyer it’s preferable to select a conveyancing practitioner is to seek recommendations from friends or family who have used the firm that you are are thinking of instructing.
I own a leasehold flat in Stratford. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Stratford who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Stratford conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the leaseholder of a ground flat in Stratford. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Stratford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Stratford property is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case was in relation to 2 flats. The remaining number of years on the lease was 72.02 years.