I am in the process of selling my apartment in Chelmsley Wood and the EA has just text me to say that the purchasers are changing their property lawyer. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with specific law firms rather the firm that they want to appoint to handle their conveyancing in Chelmsley Wood ?
Banks have always had panels of law firms they are content to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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 sway in the decision.
We decided to purchase a 1 bedroom flat in Chelmsley Wood with a mortgage from Nottingham Building Society.We use our Chelmsley Wood conveyancing practitioner but Nottingham Building Society informed us her practice is not listed on their "panel". we are left little option but to use a Nottingham Building Society panel firm or retain our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Nottingham Building Society use our lawyer?
No, not really. The loan issued to you is subject to its various provisions, one of which will be that lawyers will be on the Nottingham Building Society approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Nottingham Building Society
I have justbecome aware that Action Conveyancing have closed. They carried out my conveyancing in Chelmsley Wood for a purchase of a leasehold apartment 18 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chelmsley Wood conveyancing specialists.
How difficult is it to change conveyancer as I have to retain one who is on the National Westminster Bank conveyancing panel. I had appointed a family conveyancing solicitor in Chelmsley Wood five minutes from me but the firm is not approved by National Westminster Bank
It would be our pleasure to assist you find a conveyancing solicitor in Chelmsley Wood on the National Westminster Bank panel. Please note that the solicitors that we work with do not pay us commission if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Chelmsley Wood. In utilising search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Chelmsley Wood.
Having had my offer accepted I require leasehold conveyancing in Chelmsley Wood. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Chelmsley Wood - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1 bedroom flat in Chelmsley Wood, conveyancing having been completed November 2011. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Chelmsley Wood with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2091
With 66 years left to run we estimate the premium for your lease extension to range between £12,400 and £14,200 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 are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
My mother completed her conveyancing in Chelmsley Wood in 2007. She has since got married, divorced and in recent months got married again. She now wants to the sell the Chelmsley Wood property. I think she will just be requested to provide a copy of her marriage certificates to the conveyancer but she is anxious it could delay the conveyancing. Is it worth updating the title details for the property?
The is no need to update the title for the property providing you have the proof needed to demonstrate how the name change has come about.
The purchaser’s property lawyer will review the registered details and need evidence to prove the change of name for instance marriage documentation.