I am one month into the sale of my house in Norbury and the EA has just telephoned to warn that the buyers are appointing a new law firm. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in Norbury ?
Lenders 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 considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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. Your purchasers are unlikely to have any impact on this.
My wife and I are about to complete buying a property in Norbury but as a consequence of damage from a small fire at the property I have was able negotiate recompense from the current proprietors in the sum of £2k taking the form of a deduction in the price. I had intended this to be dealt with as part of a side agreement but Coventry BS are not allowing this. Should they have been informed?
The lawyer being on the Coventry BS approved list is duty bound to disclose to Coventry BS of any amendments to the purchase price. If you were to refuse your solicitor to disclose the price change to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new conveyancer for your conveyancing in Norbury.
Completed the sale of my flat in Norbury last November yet the purchaser is texting every few hours to moan that his solicitor needs to hear from mine. What should have happened following completion?
After completion of your sale your solicitor should forward the transfer deeds and all additional paperwork to the purchaser's conveyancer. Where appropriate, your lawyer must also send confirmation that the legal charge in favour of the lender has been discharged to the buyers solicitors. There are no post completion tasks unique to conveyancing in Norbury.
Should our solicitor be raising questions regarding flooding during the conveyancing in Norbury.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Norbury. Plenty of people will acquire a property in Norbury, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a various searches that can be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Norbury. The standard information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the owner to find out whether the property has historically flooded. If the property has been flooded in past and is not disclosed by the owner, then a purchaser may commence a compensation claim resulting from an misleading answer. A buyer’s solicitors may also order an environmental search. This should disclose whether there is any known flood risk. If so, further investigations will need to be initiated.
The estate agent has sent us the confirmation of our purchase of a new build flat in Norbury. Conveyancing is necessary evil 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 conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Norbury
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. Please confirm the Lease plans are architect prepared.
I need to instruct a conveyancing practitioner in Norbury for my sale. Is there any facility to review a solicitor's record with the legal regulator?
You may find published Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.