I am nearing exchange of contracts for my apartment in Forest of Dean and the estate agent has just called to advise that the purchasers are changing their solicitor. The reason given is that the mortgage company will only work with solicitors on their approved list. On what basis would a big named lender only deal with certain lawyers rather the firm that they want to choose to handle their conveyancing in Forest of Dean ?
Mortgage companies 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 acted for them for more than 25 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose 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 purchasers are unlikely to have any impact on this.
I am assisting my step-mother sell her flat in Forest of Dean. Does the solicitor arrange an energy performance certificate or it is for the owner to see to?
After the abolition of HIPs, EPC’s was maintained a mandatory part of selling a property. An energy performance certificate must be to hand prior to the property being advertised. It is not something that law firms ordinarily arrange. Where you are instructing a Forest of Dean conveyancing lawyer they might be willing to arrange energy performance certificates given their relationships with long established local assessors
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a garden flat in Forest of Dean. Do I receive the keys to the premises on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Forest of Dean?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the owner’s conveyancers, and once they have received this, you will be able to pick up the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
Completion of my purchase has taken place for my property in Forest of Dean. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
The deeds to our house can not be found. The conveyancers who did the conveyancing in Forest of Dean 5 years ago have long since closed. What are my next steps?
Nowadays there are copies made of almost everything, and your solicitor will know precisely where to look for all the appropriate paperwork so you can purchase or sell your property without any difficulty. If duplicates can’t be located, your lawyer may be able to put in place insurance or indemnities protecting you against possible claims on the premises.
We're novice buyers - agreed a price, but the selling agent told us that the owners will only issue a contract if we appoint their chosen lawyers as they want a ‘quick sale’. We would rather use a local conveyancer who is accustomed to conveyancing in Forest of Dean
It is unlikely the vendors are behind this. Should the vendor want ‘a quick sale', alienating a genuine purchaser is not the way to achieve this. Speak to the owners direct and make sure they comprehend that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Forest of Dean conveyancing lawyers - as opposed tothose that will earn the negotiator at the agency a kickback or meet his conveyancing thresholds demanded by HQ.
When it comes to leasehold conveyancing in Forest of Dean what are the most frequent lease problems?
Leasehold conveyancing in Forest of Dean is not unique. All leases are unique and drafting errors can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations A provision to repair to or maintain elements of the premises
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I invested in buying a studio flat in Forest of Dean, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Forest of Dean with over 90 years remaining are worth £216,000. The ground rent is £50 yearly. The lease ends on 21st October 2094
With only 70 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
Your search tool is useful but there are many lawyers listed near Forest of Dean being on the mortgage company conveyancing panel. Can you recommend a specific firm on the lender approved panel?
We do not recommend specific Forest of Dean firms as the right Forest of Dean conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Forest of Dean knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..