I am progressing with the sale of my ground floor flat in Kingsland and the EA has just telephoned to warn that the buyers are changing their conveyancer. The reason given is that the lender will only work with property lawyers on their approved list. Why would a leading lender only deal with specific solicitors rather the firm that they want to appoint for their conveyancing in Kingsland ?
Mortgage companies 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 worked with them for more than 15 years.
Mortgage companies justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. 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. 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. Your purchasers are unlikely to have any sway in the decision.
I am assisting my niece sell her house in Kingsland. Does the conveyancer arrange an energy assessment or it is for the owner to see to?
After the demise of Home Packs, energy assessments became a required component of moving house. An EPC must be commissioned prior to the property being placed on the market. This is not a task that lawyers normally arrange. Where you are instructing a Kingsland conveyancing practitioner they might be willing to arrange EPC’s given their relationships with long established Kingsland assessors
My father advised me that in purchasing a property in Kingsland there may be various restrictions prohibiting external alterations to the property. Is this right?
We are aware of a number of properties in Kingsland which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Kingsland should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am buying a 3 bedroom semi in Kingsland. Our aim is to carry out a loft conversion at the property.Will the conveyancing process involve checks to ascertain if these alterations were previously refused?
Your conveyancer should check the deeds as conveyancing in Kingsland will sometimes reveal restrictions in the title deeds which prohibit certain alterations or necessitated the permission of a 3rd party. Many additions call for local authority planning permissions and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
Will my solicitor be asking questions regarding flooding as part of the conveyancing in Kingsland.
Flooding is a growing risk for solicitors carrying out conveyancing in Kingsland. Some people will acquire a property in Kingsland, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a number of checks that may be carried out by the purchaser or by their solicitors which should give them a better understanding of the risks in Kingsland. The standard completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine whether the property has ever been flooded. In the event that the property has been flooded in past and is not revealed by the seller, then a purchaser could issue a claim for damages as a result of such an incorrect reply. The buyer’s lawyers will also conduct an environmental report. This should disclose if there is a recorded flood risk. If so, additional investigations will need to be conducted.
I'm buying my first flat in Kingsland benefiting from help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not to tell my lawyer about the side-deal as it would jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the advice of my in-laws I had a survey completed on a house in Kingsland before retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some banks may refuse to grant a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Kingsland. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kingsland to see if the conveyancing costs will increase in light of this.
My husband and I are 17 days into a freehold purchase having been referred to conveyancers by the high street agent to handle our conveyancing in Kingsland. We are not happy. Could you you assist me in finding new lawyers?
A solicitor would need to be very bad to suggest changing them. Has the mortgage offer been sent? In the event that it has you need to inform them of the replacement lawyer and ensure the offer are re-issued. Your solicitor ideally needs to be on the mortgage company panel to avoid supplemental charges and frustration. That should be your starting point. Our search tool should help you find a lender approved solicitor for your conveyancing in Kingsland