I am not well enough to travel far from Chadwell St Mary. What is the rationale as to why all Chadwell St Mary conveyancing practitioners are not on all lender panels?
Pre- 2008 most lenders had an attitude to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, mortgage companies have subsequently looked to extract more data from law firms concerning their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Many firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum volume of transactions the mortgage companies set.
It is a dozen years since I acquired my house in Chadwell St Mary. Conveyancing solicitors have recently been appointed on the sale but I can't locate my title deeds. Is this a major issue?
Don’t worry too much. Firstly there is a possibility that the deeds will be with the lender or they may be archived with the lawyers who handled your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Chadwell St Mary relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is not insurmountable.
Will our conveyancer be raising questions regarding flooding as part of the conveyancing in Chadwell St Mary.
Flooding is a growing risk for lawyers dealing with homes in Chadwell St Mary. Some people will acquire a property in Chadwell St Mary, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, however there are a various searches that may be initiated by the buyer or by their conveyancers which can give them a better understanding of the risks in Chadwell St Mary. The conventional set of property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to determine whether the property has suffered from flooding. In the event that the residence has been flooded in past and is not disclosed by the seller, then a purchaser may issue a compensation claim as a result of such an misleading answer. The purchaser’s lawyers will also commission an environmental search. This will higlight if there is a recorded flood risk. If so, more detailed inquiries should be carried out.
I used Action Conveyancing several years past for my conveyancing in Chadwell St Mary. Now, I need the files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Chadwell St Mary of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £200,000 apartment in Chadwell St Mary in 10 days. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Chadwell St Mary?
Chadwell St Mary conveyancing on leasehold flats nine out of ten times results in fees being raised by freeholders :
-
Addressing pre-exchange enquiries
Where consent is required before sale in Chadwell St Mary
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Chadwell St Mary - A selection of Queries before Purchasing
-
How much is the ground rent and service charge? Best to be warned whether window replacement or some other major work is coming up to be shared between the tenants and will dramatically impact the level of the maintenance costs or require a one time invoice. Many Chadwell St Mary leasehold flats will be liable to pay a service charge for maintenance of the building set on behalf of the freeholder. Where you buy the flat you will have to meet this liability, normally in instalments during the year. This could vary from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge to be met yearly, normally this is not a significant sum, say about £50-£100 but you need to enquire as on occasion it could be many hundreds of pounds.
I am purchasing a flat mortgage free. My solicitor has been handed with two distinct evidence of photo identification, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer advising that the funds are in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Chadwell St Mary conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.