I am nearing exchange of contracts for my ground floor flat in Kensington and the estate agent has just e-mailed to warn that the purchasers are appointing a new law firm. The excuse is that the lender will only deal with solicitors on their conveyancing panel. On what basis would a major mortgage company only deal with specific solicitors rather the firm that they want to select for their conveyancing in Kensington ?
Banks have always had panels of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks justify this action to a rise in fraud as the reason for the pruning – criteria have been stiffened 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 claims that it is being contacted daily by practices 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. Your purchasers are not going to have any sway in the decision.
About to place an offer on a leasehold property in Kensington. The property agents say that it is standard for flats in Kensington to have less than 75 years left on the lease. I am taking out a mortgage with Bank of Ireland. Is this going to be a problem if the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 30/11/2021 the requirements read as follows :
I used Action Conveyancing a few years ago for my conveyancing in Kensington. I now require my file however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 Kensington of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am a sole trader looking to take an assignment of a lease of a shop on the high street. Can you recommend lawyers offering competitive charges for commercial conveyancing in Kensington for below 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Kensington, including the sale and purchase of businesses as well as simply property. Whether you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right lawyer. As for the charges these will vary based on the structure and nuances of the proposed transaction. Please provide us with your details or telephone so as to enable us to furnish you with a fixed commercial conveyancing calculation.
Should I use a Kensington conveyancing practitioner in close proximity to the house I am hoping to buy? I have an old university friend who can deal with the conveyancing but they are based over three hundred miles away.
The benefit of a high street Kensington conveyancing firm is that you can visit the firm to sign paperwork, present your ID and apply pressure on them where appropriate. Having local Kensington know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and they were content that must surpass using an unfamiliar Kensington conveyancing lawyer just because they are based in the area.
I am hoping to buy a repression property in Kensington and the vendor would like to complete inside a month. Do solicitors complete in this timeframe? Would it be better to instruct a high street Kensington firm or an online conveyancer that professes to offer speedy conveyancing?
Visit your Kensington high street. Pop in to 3 firms and request to talk to a conveyancing solicitor for a quote. Set out your needs and seek a commitment on deadlines. Choose the one that comes across as most genuine. Be sure to choose a property lawyer on the panel of solicitors who can act for your bank.