I am in the process of selling my ground floor flat in Ampthill and the EA has just called to say that the buyers are appointing a new conveyancer. The excuse is that the lender will only work with property lawyers on their approved list. On what basis would a major lender only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Ampthill ?
UK lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Banks attribute this action to a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to oversee. 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 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 buyers are unlikely to have any impact on this.
Me and my partner are about to exchange buying a property in Ampthill but as a consequence of wreckage from some water damage at the property I have was able negotiate recompense from the seller in the sum of £3k in the form of a deduction in the price. This was going to be dealt with as part of a side agreement however Clydesdale are not allowing this. Should they have been involved?
Your lawyer being on the Clydesdale conveyancing panel is obliged to inform Clydesdale of any changes to the sale price. If you prohibit your lawyer to notify the reduction to Clydesdale then they would have to discontinue acting for you. In addition, Clydesdale and you would have to appoint a new property lawyer for your conveyancing in Ampthill.
Why is leasehold purchase conveyancing in Ampthill is more expensive?
Ampthill leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
It has been five months following my purchase conveyancing in Ampthill took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Ampthill is where the house is located. What do you suggest?
Flying freeholds in Ampthill are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ampthill you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ampthill may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My business partner and I are wishing to lease a unit on the high street. Can you recommend solicitors offering no-move-no costs for commercial conveyancing in Ampthill for under £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Ampthill, including the disposal and acquisition of businesses as well as simply premises. Whether you are intending to buy or sell a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. Regarding the fees these will vary based on the structure and complexity of the deal. Let us have your details or telephone us so that we can furnish you with comprehensive commercial conveyancing quote.