I am nearing exchange of contracts for my flat in Highbury and the EA has just e-mailed to advise that the buyers are switching conveyancer. The reason given is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named lender only work with specific solicitors rather the firm that they want to select for their conveyancing in Highbury ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to oversee. 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. Plenty of firms do not even realise 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.
What is the best way to investigate if the solicitor carrying out my conveyancing in Highbury is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Britannia thus spending £192.00 in supplemental conveyancing costs.
Please do make use of the search tool on this site. Pick the mortgage company and type ‘Highbury’ or your preferred area and you will be presented with numerous solicitors located in Highbury or near you.
I used Action Conveyancing a few years past for my conveyancing in Highbury. Now, I need my files but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Highbury of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Highbury differ for newly converted properties?
Most buyers of new build or newly converted property in Highbury contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Highbury tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Highbury or who has acted in the same development.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Highbury. I've chance upon a web site which looks to be the ideal solution If there is a chance to get all formalities completed via phone that would be preferable. Do I need to be concerned? What should out be looking out for?
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?
I’m about to sell my basement flat in Highbury. Conveyancing has not commenced, however I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal given that all rents and service charges should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Highbury. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension case for a Highbury premises is Lower Flat 16A Beatty Road in September 2012. The premium payable was £13,577. The terms of the lease has been agreed between the Applicants and the First Respondent and the Tribunal did not seek to disturb that agreement. This case was in relation to 1 flat.