I am nearing exchange of contracts for my flat in West Smithfield and the estate agent has just text me to warn that the buyers are changing their law firm. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific lawyers rather the firm that they want to appoint for their conveyancing in West Smithfield ?
Lenders have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to oversee. 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. Some do not even realise 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 not going to have any sway in the decision.
All was ready to move into my new home in West Smithfield next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the bank expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not limited to conveyancing in West Smithfield.
I am planning on selling our home in West Smithfield and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers are using an internet conveyancing practice rather than a conveyancing solicitor in West Smithfield. Having lived in West Smithfield for three years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Have completed on a a detached house in West Smithfield , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My West Smithfield conveyancing solicitor works at snail pace, so I want to be sure that my purchase is registered.
There is nothing unique about conveyancing in West Smithfield registration formalities. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether there are errors and whether the Land registry have to notify any 3rd parties. At present approximately three quarters of submission are fully addressed in less than three weeks but occasionally there can be extensive delays. Historically registration takes place after the buyer has moved in to the property therefore registration formalities is not usually top priority but where it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for the application to be prioritised.
How can the Landlord & Tenant Act 1954 affect my business property in West Smithfield and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business tenants, granting the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in West Smithfield
We have been informed by numerous friends that it may take six to eight weeks for West Smithfield conveyancing to complete.This was four weeks ago. The draft contract was only forwarded to my property lawyer yesterday so now does it countdown?
No official countdown exists for conveyancing in West Smithfield, or any location. You just have to ensure that your finances are in place and wait for the rest to come together.