I am nearing exchange of contracts for my ground floor flat in Belgravia and the estate agent has just called to say that the purchasers are appointing a new conveyancer. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. Why would a leading mortgage company only deal with specific lawyers rather the firm that they want to appoint for their conveyancing in Belgravia ?
Lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud as the reason for the reduction – criteria have been narrowed 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. Plenty of firms do not even realise 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 unlikely to have any sway in the decision.
I am the registered owner of a freehold property in Belgravia but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Belgravia and has limited impact for conveyancing in Belgravia but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
What does a local search inform me about the property my wife and I buying in Belgravia?
Belgravia conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Searches UK The local search is essential in every Belgravia conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I am buying a new build apartment in Belgravia. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Belgravia
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
How easy is it to change conveyancer as I have to appoint a firm on the The Royal Bank of Scotland conveyancing panel. I was using a local conveyancing solicitor in Belgravia five minutes from me but the firm is not accepted by The Royal Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Belgravia on the The Royal Bank of Scotland panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Belgravia. In making use of search facility on this page, you can scrutinise charges for conveyancing solicitors in Belgravia and throughout England and Wales.
I need to retain a conveyancing solicitor for some conveyancing in Belgravia. I've land on a site which seems to have the ideal solution If there is a chance to get all formalities completed via web that would be preferable. Do I need to be concerned? 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?