I am in the process of selling my ground floor flat in Hillingdon and the EA has just text me to advise that the buyers are switching law firm. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a big named mortgage company only engage with certain law firms rather the firm that they want to select for their conveyancing in Hillingdon ?
UK lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders point to the increase in fraud as the reason for the reduction – 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 being contacted daily by practices that have been removed from panels. Plenty of firms 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.
Can the conveyancing solicitors identified via your ’find a lawyer’ tool perform right to buy conveyancing in Hillingdon?
We do have a number of conveyancing practitioners who can service right to buy conveyancing work Do contact the lawyers listed in order to get a conveyancing quote.
I have Fifty Six years left on my lease and need a lease extension for my flat in Hillingdon. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/10/2020 the requirements read as follows :
Have just purchased a probate house at auction in Hillingdon. Conveyancing is necessary. What happens now?
Given that you are now legally bound yourself to purchase you now have to hire the services of a conveyancing practitioner soon as you are faced with a fast approaching a drop dead date to complete the conveyancing. Every auction property will ordinarily have a corresponding auction pack. This will likely include evidence of title and search results. In the case of leasehold premises the legal pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You should hand this to the lawyer working for you as soon as possible. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
I had a mortgage agreed in principle with TSB. Hillingdon conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from TSB?
Some lenders take longer than others. Have TSB completed the valuation? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in Hillingdon. A rare aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Yorkshire BS your lawyer must follow the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Yorkshire BS where a lease fails to satisfy these conditions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Hillingdon.
I have been advised by two or three local property agents in Hillingdon to choose a property lawyer on your site. What’s the financial inducement for Estate Agents to offer your services over another?
We don’t offer any financial incentive for directing people our way. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My brother is purchasing a ground floor flat in Hillingdon. He was given a quote by the property lawyer connected to the selling agents and it came to £1250 . It was seven years ago since I sold and purchased a home and the bill was £495. Have fees really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Hillingdon searches, land registry fees, etc)