I am selling my maisonette in Bishops Cleeve and the estate agent has just text me to advise that the purchasers are switching solicitor. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only engage with certain law firms rather the firm that they want to choose for their conveyancing in Bishops Cleeve ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies attribute this action to a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say 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 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.
AssumingI was to purchase a straightforward housein Bishops Cleeve mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Bishops Cleeve?
Any savings you would make will be limited to the Bishops Cleeve conveyancing searches. A solicitor is obliged to do the vast majority of work - money laundering, correspond with the vendors lawyer, stamp duty return, register the property etc. You might save a bit for them not having to register a charge but it will not be a lot.
Please explain the implications if my solicitor is expelled from the Leeds Building Society Conveyancing panel ahead of completing my conveyancing in Bishops Cleeve?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Forgive me if this question is silly but I am unexperienced as FTB of a ground floor flat in Bishops Cleeve. Do I pick up the keys to the house on completion from my solicitor? If so, I will use a local conveyancing solicitor in Bishops Cleeve?
On the day of completion you do not need to go to the conveyancers office in Bishops Cleeve. Your solicitors will arrange to send the purchase money to the owner’s solicitors, and once they have received this, you will be invited to collect the keys from the selling Agents and start moving into the property. Usually this occurs between 1 and 3pm.
We had appointed conveyancers with offices in Bishops Cleeve on the Nationwide solicitor panel. They are now charging me an additional charge for the legal aspects of the Nationwide mortgage. Is this a supplemental conveyancing fee set by Nationwide?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer is entitled to charge a fee for this. The charge is not set by Nationwide but by your Bishops Cleeve solicitor. Plenty of firms on the Nationwide panel will charge ’dealing with mortgage’ fee and others do not.
We were going to get a AIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Bishops Cleeve solicitors on the UBS conveyancing panel, or is it better to go independently?
You will need to appoint Bishops Cleeve solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I am looking for a conveyancing solicitor in Bishops Cleeve for my remortgage. Can I check a solicitor's record with the profession’s regulator?
Anyone may search for published Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.
I have recently realised that I have 72 years remaining on my lease in Bishops Cleeve. I now wish to extend my lease but my landlord is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. For most situations an enquiry agent should be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Bishops Cleeve.
Bishops Cleeve Leasehold Conveyancing - Examples of Queries before Purchasing
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Is there a share of the freehold? Who is in charge of the building? In the main the cost for major works tend not to be incorporated into the service charges, albeit that some managing agents in Bishops Cleeve ask leaseholders to contribute towards a reserve fund created for the specific purpose of building a fund for larger repairs or maintenance.