Can you explain why leasehold purchase conveyancing in Barking is more expensive?
The conveyancing costs on a leasehold property in Barking is frequently greater than on a freehold residence. This is because there is an amount of supplemental investigations required in communicating with the landlord and managing agents to obtain information concerning whether the rent and service fee have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the building.
Having invested time looking at moneysavingexpert.com for a recommended solicitor in Barking, most post that I should use a CQS assured lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's leading mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. The scheme does not cover licenced conveyancers. Barking is one of the numerous areas of the UK where there are CQS solicitors.
Is there a list of Kent Reliance panel conveyancers in Barking on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings open the public online. If you are looking for a Barking conveyancing practitioner on the Kent Reliance please use our facility.
Is it the case that all Barking solicitor firms on the Virgin Money conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be governed by the SRA. Many lenders do permit licenced conveyancers on their panel and in that case the firms would be regulated by the Council of Licensed Conveyancers.
I recently had an offer agreed on a house in Barking. My financial adviser suggested a conveyancing practitioner. I paid an on account payment of £150. Soon after, the conveyancing practitioner called me sheepishly admitting that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My wife and I are close to exchanging contracts on the sale of our property in Barking and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a national conveyancing outfit as opposed to a conveyancing solicitor in Barking. We have lived in Barking for 5 years we know of no issue. Should we contact our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Due to the guidance of my in-laws I had a survey completed on a house in Barking in advance of appointing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies tend not give a mortgage on this type of house.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Barking. Conveyancing may be slightly more expensive based on your lender's requirements.
My son is about to join the property ladder, he had his mortgage in principle. One the seller agreed the offer on the apartment we called the bank to issue the formal offer. We were very surprised to discover that banks do not accept all property lawyer, they have to be on a list, is this right?
Mortgage Companies ordinarily restrict either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Barking lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.