Unfortunately I am unable to travel far from Waltham Abbey. What is the rationale as to why all Waltham Abbey lawyers aren't automatically on all lender panels?
Banks normally impose restrictions on either the type or volume of conveyancing firms on their panel. A common example of such restriction(s) being that the organisation is required to have at least two partners. As well as restricting the structure of firm, some have made a decision to restrict the size of their panel they use to represent them. It is worth noting that building societies have no accountability for the standard of conveyancing provided by any Waltham Abbey property lawyer on their approved list. Increases in mortgage fraud was the main trigger for the rationalisation of conveyancing panels a few years ago notwithstanding that there are conflicting points of view about whether solicitors sat at the center of that fraud. Data published by the Land Registry indicates that thousands of conveyancing firms only transact less than three conveyances a year. Those vindicating conveyancing panel pruning question why law firms should have any entitlement to be listed on a conveyancing panel when clearly conveyancing is not their speciality?
I own a freehold premises in Waltham Abbey but still invoiced for rent, why is this and what is this?
It is rare for properties in Waltham Abbey and has limited impact for conveyancing in Waltham Abbey 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Will my conveyancer be asking questions regarding flooding during the conveyancing in Waltham Abbey.
Flooding is a growing risk for conveyancers conducting conveyancing in Waltham Abbey. There are those who purchase a house in Waltham Abbey, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a numerous checks that may be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Waltham Abbey. The conventional set of information sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to determine whether the premises has historically flooded. In the event that the residence has been flooded in past which is not disclosed by the vendor, then a buyer could issue a legal claim for losses as a result of such an misleading response. A buyer’s lawyers should also carry out an environmental report. This should indicate if there is a recorded flood risk. If so, additional inquiries should be initiated.
I'm purchasing my first flat in Waltham Abbey with a loan from Britannia. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my lawyer about this side-deal as it may affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My husband and I are FTB’s - had an offer accepted, yet the selling agent informed us that the vendor will only go ahead if we instruct their recommended solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local conveyancer who is accustomed to conveyancing in Waltham Abbey
We suspect that the owner is unaware of this request. Should the owner require ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Try to communicate with the vendors directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to instruct your preferred Waltham Abbey conveyancing firm - not the ones that will earn their negotiator at the agency a introducer fee or meet his conveyancing figures set by corporate headquarters.
What can I do where I am dissatisfied with the lawyer who undertook our conveyancing in Waltham Abbey?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that occasionally matters do not go as planned. Nevertheless there is recourse where you were not happy with your conveyancing in Waltham Abbey. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their regulator. If you remain aggrieved you may consider getting in touch with the Legal Ombudsman.