I am progressing with the sale of my ground floor flat in Cranham and the EA has just e-mailed to advise that the buyers are appointing a new law firm. The excuse is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a leading lender only deal with specific law firms rather the firm that they want to select to handle their conveyancing in Cranham ?
UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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.
My nephew is about to exchange on a newly built flat in Cranham with a mortgage from Bank of Ireland. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What can a local search reveal concerning the property I am purchasing in Cranham?
Cranham conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance PSG The local search plays an important role in most Cranham conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search should provide data on, amongst other things, details on planning applications relevant 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 thirteen topic headings.
The deeds to our house are lost. The conveyancers who did the conveyancing in Cranham 5 years ago no longer exist. What do I do?
Assuming the title is registered the information relating to your proprietorship will be retained by the Land Registry with a Title Number. It is possible to perform a search at the Land Registry, locate your property and get up to date copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
How can the Landlord & Tenant Act 1954 impact my commercial property in Cranham and how can you help?
The 1954 Act provides security of tenure to business lessees, granting the right to apply to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Cranham
I note that you have a post code search directory listing law firms on the bank conveyancing panel. Do Cranham conveyancing firms pay you a commission if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Cranham.