I am in the process of selling my ground floor flat in Blakeney and the estate agent has just telephoned to warn that the purchasers are switching solicitor. The excuse is that the lender will only deal with property lawyers on their approved list. On what basis would a major mortgage company only deal with certain lawyers rather the firm that they want to choose to handle their conveyancing in Blakeney ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened 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 says it is hearing daily from firms 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 buyers are not going to have any sway in the decision.
Our lender has recommended solicitors on their panel based in Blakeney but I would rather choose a conveyancing lawyer in Blakeney or nearer to where I live. Can you assist?
It is by no means the case that all Blakeney conveyancing practitioners are on all banks conveyancing panel. Use our find an approved solicitor tool to find a Blakeney conveyancing solicitor on the on the mortgage company panel.
Have purchased a a detached house in Blakeney , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Blakeney conveyancing solicitor works at snail pace, so I want to be sure that my ownership is registered.
As far as conveyancing in Blakeney is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can differ according to who lodges the application, whether there are errors and if the Land registry must send notices to any other persons or bodies. As of today roughly 80% of such applications are fully addressed in less than three weeks but occasionally there can be extensive hold-ups. Registration takes place after the purchaser has moved in to the premises so an expedited registration is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your lawyers could speak with the land registry and explain the circumstances.
Should I be suspicious about brokers that I am dealing with are recommending a national conveyancing firm as opposed to a High Street Blakeney conveyancing practice?
As with many service providers, often recommendations from connections can be worth their weight in gold. Nevertheless there are many players in a conveyancing deal; estate agents, financial adviser and lenders may recommend conveyancers to select. Sometimes these solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the recommendation. You are at liberty to choose your own conveyancer. You need to be aware that many banks specify a panel list of conveyancers you are obliged to use for the lender aspect of your conveyancing.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £350,000 garden flat in Blakeney next Monday. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Blakeney?
Blakeney conveyancing on leasehold maisonettes often involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are at liberty to levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I inherited a studio flat in Blakeney, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Blakeney with a long lease are worth £211,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2092
You have 68 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
We today found out that one of the directors of the conveyancing practice handling the purchase conveyancing in Blakeney is related to the vendor. Is this acceptable?
As long as no conflict arises this is allowable. Where you are requiring mortgage finance then the lender may have a say as many mortgage companies have specific instructions concerning this. For example for Chelsea Building Society as of 15/4/2024, the requirements read as follows :
* there is no conflict of interest and none arises during the transaction
* the firm is a partnership
* the conveyancer acting is not the borrower or a member of the borrower's immediate family.