I am one month into the sale of my house in The Ridgeway and the EA has just e-mailed to advise that the purchasers are switching solicitor. The excuse is that the lender will only deal with solicitors on their approved list. On what basis would a big named lender only engage with specific law firms rather the firm that they want to appoint for their conveyancing in The Ridgeway ?
Mortgage companies have always had panels of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks attribute this action to a rise in fraud by way of justification for the reduction – 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 hearing daily from firms that have been removed from panels. Plenty of firms 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 not going to have any sway in the decision.
I am planning to acquire a property and require a conveyancing solicitor in The Ridgeway who is on the Platform Home Loans Ltd approved. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Platform Home Loans Ltd in certain locations such as The Ridgeway. We dont recommend any particular firm.
My stepmother informed me that in purchasing a property in The Ridgeway there may be a number of restrictions preventing external alterations to a property. Is this right?
We are aware of a number of properties in The Ridgeway which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in The Ridgeway should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as UBS, do The Ridgeway lawyers face an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I am currently in the process of buying my council flat in The Ridgeway. I have a mortgage offer with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
Due to the advice of my in-laws I had a survey completed on a house in The Ridgeway in advance of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies tend not give a mortgage on this type of premises.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in The Ridgeway. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in The Ridgeway to see if the conveyancing will be more expensive.
My husband and I are 17 days into a freehold purchase having been recommend to a firm by the high street agent to carry out the conveyancing in The Ridgeway. I am not happy. Can you you assist me in finding new conveyancers?
A solicitor would have to be very bad in order to consider replacing them. Has the loan offer been generated? In the event that it has you must advise them of the new contact details and ensure the mortgage documents are issued to the new lawyers. The conveyancer should be on the banks approved list to avoid supplemental charges and complications. So that should be your first question of the new conveyancers. Our search tool should assist you in finding a bank approved conveyancer for your home move in The Ridgeway
Last December I purchased a leasehold house in The Ridgeway. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a The Ridgeway conveyancing firm to assist?
Absolutely. We are happy to put you in touch with a The Ridgeway conveyancing firm who can help.
An example of a Lease Extension case for a The Ridgeway flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The number of years remaining on the existing lease(s) was 76 years.