I am in the process of selling my maisonette in Harwich and the EA has just e-mailed to warn that the buyers are appointing a new solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. On what basis would a leading mortgage company only engage with specific lawyers rather the firm that they want to choose for their conveyancing in Harwich ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders blame a rise in fraud as the reason for the pruning – criteria have been narrowed 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 sway in the decision.
I am under pressure from the executor of a property in Harwich to sign contracts within four weeks. What can I do to expedite matters?
In a situation where the seller is applying time constraints to exchange we would recommend that your lawyer is familiar with the area as they will make use of local relationships and intelligence. It is possible that they may have conducted otherhomes in the same street. You would be best advised to use a Harwich conveyancing firm. In addition, ensure that the conveyancing firm is on the member panel. It is claimed that 18% of Harwich conveyancing deals are held up or jeopardised after discovering a purchaser’s solicitor was not on their mortgage lender’s member panel. This can often result in the buying process being delayed by as much as 21 days. It is claimed that this issue affects approximately 100,000 home sales every year. Almost all Harwich conveyancing firms can not act for certain mortgage companies so do check at the outset.
What does my ID and proof of funds have anything to do with my conveyancing in Harwich? What am I being asked for?
In order to comply with Money Laundering Regulations any Harwich conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancing solicitors are required to check not just the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will result in your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the appropriate authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
I am helping my mother sell her flat in Harwich. Does the conveyancing solicitor commission an energy performance certificate or should I organise this?
After the abolition of HIPs, energy assessments became a required element of moving property. An EPC should be commissioned before the property is put on the market. This is not something that lawyers ordinarily arrange. If you are using a Harwich conveyancing solicitor they might help arrange energy performance certificates given their relationships with reputable Harwich accredited person
We had chosen solicitors located in Harwich on the Coventry BS solicitor approved list. They have just invoiced me a supplemental fee for handling the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your solicitor is entitled to charge a fee for this. This fee is not set by Coventry BS but by your Harwich solicitor. Plenty of firms on the Coventry BS panel will charge ’dealing with mortgage’ fee but many firms include it on their overall fee.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Harwich conveyancing lawyers have been instructed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
There is no definitive answer here. Have Virgin Money done the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The deeds to my home are lost. The lawyers who did the conveyancing in Harwich 10 years ago have long since closed. Will I be able to sell the house?
Gone are the days when you need to hold title original deeds to establish that you are the owner of your registered land or property, as the Land Registry have everything they need in a digital format.
How does the Landlord & Tenant Act 1954 affect my business property in Harwich and how can your lawyers assist?
The particular law that you refer to gives security of tenure to business tenants, giving them the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where 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 to your advantage and assist with commercial conveyancing in Harwich