I am selling my house in Basinghall and the EA has just text me to say that the buyers are switching conveyancer. I am told that this is due to the fact that the bank will only engage with property lawyers on their approved list. On what basis would a major lender only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Basinghall ?
UK lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. 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 purchasers are not going to have any impact on this.
We were just about to exchange contracts for a leasehold flat in Basinghall. We have hit a stumbling block. Our mortgage offer with Barclays expires on 2/3/2026 but the owners are putting forward a completion date of 4/3/2026. Is it possible to prolong the loan offer?
The best person to deal with your question is your conveyancer who is in a position to determine whether they corresponding with the bank, vendor’s lawyers, property agents or conceivably all parties based on the circumstances your house move to date.
I need some expedited conveyancing in Basinghall as I am under pressure to sign on the dotted line in less than one month. A home loan is not required. Can I decline from having conveyancing searches to save money and time?
If.Given you are not getting a home loan you are at free not to do searches although no lawyer would advise that you don't. With lots of history conveyancing in Basinghall the following are instances of what can be revealed and therefore impact market value: Enforcement Notices, Outstanding Fees, Overdue Grants, Road Schemes,...
Given that I am about to spend over three hundred thousand on a property in Basinghall I wish to talk to a conveyancer about mytransaction prior to appointing the firm. Is this something that you can arrange?
This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you first talking to the solicitor due to be conducting your conveyancing in Basinghall.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The solicitors that we put you in touch with believe that the fees you are quoted for residential conveyancing in Basinghall should be the amount on the final invoice that you end up paying.
I need to instruct a conveyancing solicitor for sale conveyancing in Basinghall. I happened to chance upon a site which appears to be the perfect solution If there is a chance to get all the legals done via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a reputable estate agency in Basinghall where we have experienced a number of leasehold sales derailed as a result of short leases. I have received contradictory information from local Basinghall conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Basinghall. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Lease Extension matter before the tribunal for a Basinghall residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The remaining number of years on the lease was 72.39 years.