I am in the process of selling my flat in Chalfont St Giles and the estate agent has just telephoned to say that the buyers are swapping solicitor. I am told that this is due to the fact that the bank will only engage with property lawyers on their approved list. Why would a big named mortgage company only deal with specific lawyers rather the firm that they want to appoint for their conveyancing in Chalfont St Giles ?
Banks have always had panels of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been stiffened 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 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. Your purchasers are not going to have any impact on this.
My partner and I have just bought a property in Chalfont St Giles. We have noticed several problems with the property which we consider were overlooked in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Chalfont St Giles?
The question is not clear as to the nature of the problems and if they are specific to conveyancing in Chalfont St Giles. Conveyancing searches and investigations initiated during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a property owner answers a questionnaire referred to as a SPIF. answers proves to be misleading, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Chalfont St Giles.
We note that you have a post code search directory identifying solicitors on the RBS conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Chalfont St Giles?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Chalfont St Giles.
What can a local search inform me regarding the house I am buying in Chalfont St Giles?
Chalfont St Giles conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for instance Xpress Legal The local search plays a central part in many a Chalfont St Giles conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will reveal 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 13 subject headings.
I am looking for a ground for flat up to £245,000 and found one close by in Chalfont St Giles I like with open areas and transport links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Chalfont St Giles in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the remaining unexpired lease term may be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Why do I have to send my conveyancer with numerous items of ID before they can commence with selling or buying a property in Chalfont St Giles?
Chalfont St Giles lawyers are duty bound by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering Regulations to record that the have checked the identity of their clients. It will also be a requirement of your bank where you are taking a mortgage. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, national insurance number and date of birth.