I am nearing exchange of contracts for my house in West Ealing and the EA has just telephoned to advise that the buyers are changing their solicitor. The excuse is that the mortgage company will only deal with property lawyers on their approved list. On what basis would a major mortgage company only engage with specific lawyers rather the firm that they want to select to handle their conveyancing in West Ealing ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. 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. 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 buyers are unlikely to have any sway in the decision.
In what way does my ID and proof of funds have anything to do with my conveyancing in West Ealing? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Client Care letter that you need to sign should confirm this. Your lender will also require certain documents to be viewed. Where you refuse to provide identification documents, your solicitor will not be able to take you on as a client.
Should commercial conveyancing searches reveal proposed roadworks that may affect a commercial property in West Ealing?
Many commercial conveyancing solicitors in West Ealing will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in West Ealing. The search result sets out definitive information 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 West Ealing.
For each commercial conveyancing transaction in West Ealing it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to West Ealing commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in West Ealing.
It has been 3 months following my purchase conveyancing in West Ealing completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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.
I have been on the look out for a leasehold apartment up to £305k and found one close by in West Ealing I like with open areas and station nearby, however it only has 52 years unexpired on the lease. There is not much else in West Ealing in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
How simple is it to swap firm as I need to find a firm on the Alliance & Leicester conveyancing list. I hired a family conveyancing solicitor in West Ealing round the corner but the firm is not approved by Alliance & Leicester
It would be our pleasure to help you select a conveyancing solicitor in West Ealing on the Alliance & Leicester panel. Please note that the conveyancers that we on the directory do not pay us fee if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in West Ealing. In making use of search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in West Ealing.