I am nearing exchange of contracts for my apartment in Twickenham Park and the estate agent has just called to advise that the buyers are appointing a new conveyancer. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. Why would a major lender only work with specific solicitors rather the firm that they want to select for their conveyancing in Twickenham Park ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened 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. Some 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 purchasers are unlikely to have any impact on this.
Do the conveyancing solicitors that you recommend handle conveyancing in Twickenham Park by way of an attended exchange?
We do have a number of conveyancing specialists carrying out personalised exchanges. Please contact us to obtain a conveyancing quote and details as to availability.
I own a freehold residence in Twickenham Park but still invoiced for rent, why is this and what is this?
It is rare for properties in Twickenham Park and has limited impact for conveyancing in Twickenham Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
My wife and I are purchasing a apartment in Twickenham Park. I might seem paranoid but how we can trust a lawyer? On the day of competition we will need to put money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have decided to exercise my right to buy my property in Twickenham Park off the council. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I can not work out if my lender requires a lease extension. I have called into my local Twickenham Park building society branch on numerous occasions and was told they are content with the situation and they will lend. My Twickenham Park conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. I have no idea who is right.
Your conveyancer has to comply with the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I opted to have a survey done on a house in Twickenham Park in advance of instructing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies will not grant a loan on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Twickenham Park. Conveyancing will be smoother if you use a solicitor in Twickenham Park especially if they are familiar with such properties in Twickenham Park.
As co-executor for the estate of my father I am selling a property in Cardiff but reside in Twickenham Park. My solicitor (who is 260 kilometers awayhas requested that I sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing practitioner in Twickenham Park to attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are Twickenham Park based