I am selling my house in West Drayton and the EA has just text me to say that the purchasers are swapping property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. On what basis would a big named lender only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in West Drayton ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks attribute this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say 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 unlikely to have any impact on this.
Why do I have to pay up front for my conveyancing in West Drayton?
If you are buying a property in West Drayton your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the total price then this should be needed shortly before contracts are exchanged. Any further balance that is due should be sent to your lawyer a couple of days prior to the completion date.
Having invested time researching mumsnet.com for a high-quality solicitor in West Drayton, many comment that I must use a CQS accredited solicitor. Can you explain what CQS is?
West Drayton Conveyancing Quality Scheme practices have obtained accreditation under the Law Society's Scheme (CQS) The Law Society established CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS enables house movers to identify practices who provide a quality residential conveyancing. West Drayton is one of locations in England and Wales in which CQS are located. The conveyancing scheme requires solicitors to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Association of British Insurers.
I'm refinancing my primary house to a BTL loan with Bank of Ireland and intend to use the remaining equity as a deposit on another house. The area we are interested in is West Drayton. Will your lawyers be able to act for both sets of banks and link together the conveyances?
Make use of our comparison tool on this page to ensure that the solicitors are approved by both lenders. Assuming that they are your lawyer will be able to tie up the two deals but you should have a chat with you lawyer and specify your expectations and needs.
My husband and I are FTB’s - agreed a price, but the property agent informed us that the vendor will only issue a contract if we instruct their recommended solicitors as they want an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in West Drayton
It is highly unlikely the vendors are behind this. Should the owner require ‘a quick sale', alienating a motivated buyer is going to damage their objectives. Try to communicate with the owners directly and make sure they comprehend that (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your preferred West Drayton conveyancing firm - as opposed tothe ones that will provide the negotiator at the agency a referral fee or hit his conveyancing figures pre-set by head office.
Last June I purchased a leasehold flat in West Drayton. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in West Drayton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Freehold Enfranchisement decision for a West Drayton flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The unexpired term as at the valuation date was 69 years.