I am progressing with the sale of my home in Wandsworth and the estate agent has just e-mailed to warn that the purchasers are appointing a new law firm. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a major mortgage company only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Wandsworth ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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. The purchasers are not going to have any sway in the decision.
Can the conveyancing lawyers via your comparison service handle conveyancing in Wandsworth by way of an attended exchange?
We do have a number of conveyancing specialists carrying out 24hr exchanges. Do contact us to obtain a conveyancing quote and details as to availability.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial site in Wandsworth?
Its becoming the norm that commercial conveyancing solicitors in Wandsworth will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Wandsworth. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wandsworth.
For each commercial conveyancing transaction in Wandsworth it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Wandsworth commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Wandsworth.
My father-in-law has encouraged me to instruct his lawyers for conveyancing in Wandsworth. Should I use them?
No doubt the ideal way to find a conveyancing solicitor is to seek referrals from friends or family who have previously instructed the firm you're considering.
Back In 2004, I bought a leasehold house in Wandsworth. Conveyancing and Britannia mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Wandsworth who acted for me is not around. What should I do?
First contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Wandsworth conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Wandsworth. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price.
An example of a Freehold Enfranchisement decision for a Wandsworth residence is 4 Galveston Road in August 2012. The Tribunal determined that the price payable in respect of the purchase of the freehold was £22,650. The Tribunal remited this matter back to the Wandsworth County Court for execution of the freehold Transfer Deed. This case affected 2 flats.
Should I stop the direct debit for my mortgage with Barclays as soon as a completion date for my sale in Wandsworth has been set?
You are best advised to keep paying any mortgage sums to Barclays until the mortgage is repaid from the proceeds of sale as part of your Wandsworth conveyancing.