I am six weeks into the sale of my flat in Elmswell and the estate agent has just e-mailed to advise that the purchasers are swapping conveyancer. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Elmswell ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Mortgage companies attribute this action to a rise in fraud by way of justification for the cull – criteria have been stiffened 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. 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 buyers are not going to have any impact on this.
Are the Elmswell conveyancing solicitors identified as being on the Leeds Building Society conveyancing panel, together with their details provided by Leeds Building Society?
Elmswell conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
is it true that all Elmswell solicitor firms on the Barclays conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
We have agreed to purchase a house in Elmswell. An unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Lloyds your lawyer must follow the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook contains minimum requirements for solar panel roof-space leases, and lawyers are required to report to Lloyds where a lease does not comply with these provisions. The specifications relate to the installation of panels on properties nationwide and is not limited to Elmswell.
I was told two weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Elmswell is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
The estate agent has sent us the confirmation of our purchase of a new build flat in Elmswell. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Elmswell
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants.
As co-executor for the estate of my father I am disposing of a house in Neath but I am based in Elmswell. My lawyer (based 300 kilometers from mehas requested that I sign a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in Elmswell to attest and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are located in Elmswell
Can you offer any advice when it comes to appointing a Elmswell conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Elmswell conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Elmswell conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
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How experienced is the practice with lease extension legislation? Can they put you in touch with clients in Elmswell who can give a testimonial?
Elmswell Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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Is there a share of the freehold? Are any of leasehold owners in arrears of their service charge liability? It is important to be aware if redecorating or some other major work is due shortly to be shared between the leaseholders and will dramatically impact the level of the maintenance charges or require a specific invoice.