I am six weeks into the sale of my flat in Highbury and the EA has just called to warn that the purchasers are changing their property lawyer. The excuse is that the bank will only engage with solicitors on their conveyancing panel. Why would a major mortgage company only engage with certain lawyers rather the firm that they want to appoint for their conveyancing in Highbury ?
UK lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say 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 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. Your buyers are unlikely to have any sway in the decision.
I have given 2 months notice to my existing landlord and must be out of my let out property in Highbury by the end of next month. Conveyancing on my purchase is progressing. Can I complete in 4 weeks as don't want to have to find temporary accommodation?
The normal practice is not to serve notice on a rental until exchange of contracts has taken place. Assuming that you have not already done so, update to your solicitor and request that they chase the owners solicitors, try to get a realistic time scale from them that everyone will look towards
Do lenders provide you with an approved list of Highbury conveyancing solicitors? How do you know who is on the HSBC conveyancing panel?
Highbury conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
I am buying a new build house in Highbury with a loan from Godiva Mortgages Ltd. The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my lawyer about the side-deal as it may adversely affect my mortgage with Godiva Mortgages Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Highbury and how can your lawyers assist?
The particular law that you refer to provides security of tenure to business tenants, giving them the dueness to make a request to court for a renewal lease and remain in occupation at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Highbury is one of our numerous locations in which the firms we work with are located
My father-in-law has recommend that I appoint his conveyancing solicitors in Highbury. Should I find my own conveyancer?
There are no two ways about it the best way to select a conveyancing lawyer is to get feedback from friends or family who have actually previously instructed the firm that you are considering.