I am nearing exchange of contracts for my ground floor flat in Charing Cross and the estate agent has just telephoned to warn that the buyers are appointing a new property lawyer. The reason given is that the bank will only work with solicitors on their approved list. Why would a major mortgage company only deal with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Charing Cross ?
Banks have always had an approved set of law firms that can represent them, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal 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 are unaware that 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 not going to have any impact on this.
My partner and I are close to exchanging contracts on the sale of our home in Charing Cross and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Charing Cross conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing practice as opposed to a conveyancing solicitor in Charing Cross. We have lived in Charing Cross for 5 years we know that this is a non issue. Do we get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
The deeds to our property can not be found. The lawyers who dealt with the conveyancing in Charing Cross 4 years ago are no longer around. What do I do?
You no longer need to have the physical deeds to prove you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
I'm purchasing my first flat in Charing Cross with a loan from Godiva Mortgages Ltd. The builders refused to move on the price so I negotiated £7000 of additionals instead. The property agent advised me not reveal to my conveyancer about this extras as it may affect my loan with Godiva Mortgages Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey completed on a property in Charing Cross in advance of retaining conveyancers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies tend not issue a mortgage on this type of house.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Charing Cross. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Charing Cross cover?
Charing Cross conveyancing for business premises covers a broad range of advice, provided by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.