I am progressing with the sale of my house in Chipping Sodbury and the estate agent has just text me to warn that the buyers are changing their solicitor. The excuse is that the bank will only deal with property lawyers on their approved list. Why would a major lender only work with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Chipping Sodbury ?
UK lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions blame a rise in fraud by way of justification for the pruning – criteria have been stiffened 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 claims that it is being contacted daily by practices that have been removed from panels. Some 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. Your buyers are unlikely to have any impact on this.
I am purchasing a property for cash in Chipping Sodbury. I have resided for the last 15 years in Chipping Sodbury. Conveyancing searches are a lot of money. As I have knowledge of the area and road very well must I have all the conveyancing searches?
Provided that you do not need a mortgage, then all but one or two of the Chipping Sodbury conveyancing searches are optional. Your solicitor will try and steer you, no-doubt strongly, that you should have searches carried out, but he is duty bound to take that path of advice. One thing to consider; if you are going to sell the house one day, it may be of interest to your future purchaser what the searches reveal. On occasion houses with no practical issues can still reveal unfavourable search results. A good conveyancing solicitor in Chipping Sodbury should provide you some helpful advice concerning this.
It has been five months since my purchase conveyancing in Chipping Sodbury completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey completed on a property in Chipping Sodbury prior to retaining lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders will not give a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can check with 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 Chipping Sodbury. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Chipping Sodbury and how can your lawyers assist?
The 1954 Act gives security of tenure to commercial lessees, giving them the dueness to make a request to court for a renewal tenancy and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Chipping Sodbury
I am due to assess costs for conveyancing in Chipping Sodbury from numerous conveyancing practitioner and choose one. Am I right to instruct them to hold tight until I a suitable house to buy.
You should wait to get your conveyancing practitioner to open a file and apply for searches after the offer has been agreed to on the property particularly as Chipping Sodbury conveyancing searches are a couple of hundred pounds.