I am selling my maisonette in Eastcote and the EA has just telephoned to advise that the buyers are changing their property lawyer. The reason given is that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with certain law firms rather the firm that they want to choose for their conveyancing in Eastcote ?
Banks have always had an approved set of law firms that can act for 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 worked with them for many years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened 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 claims that 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 unlikely to have any sway in the decision.
As someone clueless as to the Eastcote conveyancing process what’s the number one tip you can give me for the home moving process in Eastcote
Not many law firms or advisers will tell you this but conveyancing in Eastcote or throughout West London is often a confrontational process. In other words, when it comes to conveyancing there is plenty of room for confrontation between you and others involved in the legal transfer of property. For instance, the vendor, property agent and even potentially a lender. Appointing a solicitor for your conveyancing in Eastcote an important selection as your conveyancer is your adviser, and is the SOLE person in the process whose role it is to look after your legal interests and to keep you safe.
On occasion a third party with a vested interest may attempt to sway you that you should follow their advice. For instance, the property agent may claim to be helping by suggesting your conveyancer is wrong. Or your mortgage broker may try to convince you to do something that is against your lawyers recommendation. You should always trust your lawyer above all other parties in the home moving process.
A colleague advised me that in buying a property in Eastcote there could be a number of restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Eastcote which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Eastcote should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am selling my apartment. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Principality are being difficult. The Eastcote solicitor who is on the Principality conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
HSBC have agreed my home loan in principle, my offer on a apartment in Eastcote has been agreed to, what happens next?
The estate agent will wish to be informed of your conveyancing practitioner's details (ensure that the solicitors are on the lender’s panel). Telephone HSBC or the broker and finish off any appropriate documentation. HSBC will appoint a valuer who will get in touch with the estate agent or owners to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. HSBC will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Eastcote.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when buying a residence in Eastcote?
Unless a prior purchase of the property took place after 12 October 2013 you may assume that lawyers carrying out conveyancing in Eastcote to remain recommending a chancel search and or chancel repair liability policy.
I used Wolstenholmes a few years ago for my conveyancing in Eastcote. Now, I need the files however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Eastcote of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build apartment in Eastcote. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Eastcote
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan.