I am in the process of selling my home in Eccleston and the EA has just telephoned to warn that the purchasers are swapping law firm. The excuse is that the lender will only engage with solicitors on their conveyancing panel. Why would a big named lender only work with specific solicitors rather the firm that they want to select to handle their conveyancing in Eccleston ?
Lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud as the reason for the reduction – 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 hearing daily from firms 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. The purchasers are unlikely to have any sway in the decision.
We see that you have a post code search directory identifying law firms on the TSB conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Eccleston?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Eccleston.
A colleague advised me that in buying a property in Eccleston there may be a number of restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Eccleston which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Eccleston should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Eccleston. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
As you are obtaining a mortgage with Virgin Money your lawyer must follow the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Virgin Money where a lease fails to satisfy these provisions. The requirements relate to the installation of panels on properties countrywide and is not restricted to Eccleston.
I am selling my house. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being pedantic. The Eccleston solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Eccleston is where the house is located. Can you offer any opinion?
Flying freeholds in Eccleston are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eccleston you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eccleston may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I need to instruct a conveyancing solicitor for freehold conveyancing in Eccleston. I have stumble upon a web site which seems to have the perfect offering If it is possible to get all this stuff completed via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Looking forward to exchange soon on a ground floor flat in Eccleston. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Eccleston should include some of the following:
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Does the lease require carpeting throughout thus preventing wood flooring? Specifying your legal entitlements in respect of common areas in the building.For example, does the lease contain a right of way over an accessway or hallways? How long the lease is. You should receive guidance as what happens when the lease ends, and aware of the importance of the 80 year mark Advice as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder enjoys Where does the liability rest to repair and maintain the building. It is important that you know which party is responsible the repair and maintenance of all parts of the block and estate
I purchased a garden flat in Eccleston, conveyancing formalities finalised half a dozen years ago. 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 Eccleston with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2092
You have 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.