My wife and I are hoping to acquire a home in Abbey Wood and are in fact using a Abbey Wood conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Lloyds TSB Bank have this evening contacted us to inform me that there is now an issue as our Abbey Wood lawyer is not on their conveyancing panel. What do we do from here?
If you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Abbey Wood solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
At what point does exchange of contracts happen for sale conveyancing in Abbey Wood and am I required to attend the lawyers office?
If you are round the corner to one of the conveyancing solicitors in Abbey Wood you are invited in to sign the paperwork. However, the firms we recommend provide countrywide coverage for conveyancing and give just as detailed and professional a job for you when dealing with you by post or email. The executing of the sale agreement is not when everything is set in stone. Signing on the dotted line simply enables the solicitor to exchange contracts at the appropriate time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Abbey Wood)to be in the office available at the end of the phone to exchange contracts.
I need some expedited conveyancing in Abbey Wood as I have an ultimatum to sign on the dotted line within one month. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a cash buyer you have the choice not to have searches carried out although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Abbey Wood the following are instances of what can crop up and therefore impact future saleability: Enforcement Actions, Overdue Fees, Overdue Grants, Road Schemes,...
I opted to have a survey completed on a property in Abbey Wood prior to appointing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some banks will refuse to give a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Abbey Wood. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are 14 days into a freehold purchase having been directed to conveyancers by the local agent to perform conveyancing in Abbey Wood. I am am extremely frustrated with the quality of service. Can you you assist me in finding new solicitors?
A solicitor would have to be really poor in order to consider diss instructing them. Has your loan offer been issued? If so you will need to advise them of the new conveyancer and have the mortgage documents are re-issued. The conveyancer should be on the banks panel to avoid escalating fees and delays. So that should be your starting point. The find a solicitor tool should help you find a lender approved conveyancer for your home move in Abbey Wood
Can you offer any advice when it comes to appointing a Abbey Wood conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Abbey Wood conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Abbey Wood conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
If they are not ALEP accredited then what is the reason? Can they put you in touch with clients in Abbey Wood who can give a testimonial?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Abbey Wood conveyancing firm to help?
You certainly can. We can put you in touch with a Abbey Wood conveyancing firm who can help.
An example of a Lease Extension decision for a Abbey Wood premises 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 was in relation to 13 flats. The number of years remaining on the existing lease(s) was 76 years.