I am 4 weeks into the sale of my house in Wigan and the EA has just called to advise that the buyers are appointing a new solicitor. The reason given is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in Wigan ?
Banks have always had panels of law firms that can act for them, but in the last few 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 many years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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. The purchasers are unlikely to have any impact on this.
I am in the process of remortgaging my property in Wigan, does my lawyer have to be on the Coventry BS Conveyancing panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I am looking for a leasehold apartment up to £245,000 and found one near me in Wigan I like with a park and transport links nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Wigan for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I am thinking of appointing a conveyancing solicitor in Wigan for my sale. Can I review a solicitor's complaints history with the profession’s regulator?
Anyone may see documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator could monitor call for training purposes.
I own a leasehold house in Wigan. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Wigan who acted for me is not around. Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Wigan conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a split level flat in Wigan, conveyancing formalities finalised 10 years ago. How much will my lease extension cost? Comparable flats in Wigan with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2088
With only 63 years left to run we estimate the premium for your lease extension to be between £16,200 and £18,600 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
I need to find a bank panel solicitor in Wigan. Could you help me?
Unfortunately it’s not apparent why you need a Wigan panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Wigan are on their panel . If you do find such a firm in Wigan not listed please direct them to our site to list. After all the cost is only one £1 a month