I am five weeks into the sale of my ground floor flat in Addlestone and the EA has just e-mailed to advise that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the lender will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only engage with specific law firms rather the firm that they want to choose for their conveyancing in Addlestone ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders blame a rise in fraud as the reason for the cull – 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 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. The purchasers are not going to have any impact on this.
We are buying a house and need a conveyancing solicitor in Addlestone who is on the Virgin Money conveyancing panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Addlestone.
The Addlestone conveyancing lawyers that I appointed last week on my house acquisition in Addlestone have suddenly shut down. I only went with them because I had to have a firm on the Barclays conveyancing panel and my previous Addlestone lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Have just purchased a repossessed house at auction in Addlestone. Conveyancing is required. What happens now?
Now that you are for in every practical sense signed on the dotted line you now have to retain a conveyancing lawyer soon as you are faced with a tight a fixed date to complete the transaction. An auction property should have an associated legal pack. This should include evidence of title and search results. Where you are dealing with leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You need to pass this on to the solicitor instructed by you ASAP. You also need to ensure that your finances are organised to complete on the date specified in the contract.
We previously appointed conveyancers located in Addlestone on the Kent Reliance solicitor approved list. They are now charging me an additional amount for the legal aspects of the Kent Reliance mortgage. Is this a supplemental conveyancing fee specified by Kent Reliance?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your solicitor can levy a fee for this. The fee is not dictated by Kent Reliance but by your Addlestone conveyancer. Some firms on the Kent Reliance panel will quote an ‘acting for lender’ fee and others do not.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Addlestone solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Addlestone surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My husband and I are novice buyers - agreed a price, but the property agent informed us that the vendor will only go ahead if we instruct the agent's preferred lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in Addlestone
We suspect that the seller is unaware of this ultimatum. Should the seller want ‘a quick sale', taking such a hostile approach to a motivated purchaser is counter productive. Speak to the owners direct and explain that (a)you are serious purchasers (b)you are ready to progress, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you will continue to appoint your preferred Addlestone conveyancing lawyers - not the ones that will earn their negotiator at the agency a introducer fee or achieve conveyancing thresholds pre-set by senior management.
I’m about to sell my garden flat in Addlestone. Conveyancing is yet to be initiated, but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as usual because all rents and maintenance payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have given up seeking a lease extension in Addlestone. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Addlestone conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Addlestone residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired lease term was 82.93 years.