I am progressing with the sale of my house in Newbury Park and the EA has just called to advise that the purchasers are changing their law firm. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a big named lender only deal with certain solicitors rather the firm that they want to choose to handle their conveyancing in Newbury Park ?
Mortgage companies have always had an approved set of law firms that can act for them, 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.
Lending institutions 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 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 not going to have any impact on this.
When does exchange of contracts take place for sale conveyancing in Newbury Park and am I required to attend the lawyers branch?
Where you are local to our conveyancing solicitors in Newbury Park you are invited in to sign contracts. However, the law practices we recommend offer a national conveyancing service and give as equally comprehensive and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not the point of no return. A signed contract is just a prerequisite for the solicitor to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Newbury Park)to be in the office available at the end of the phone to exchange contracts.
My lawyer in Newbury Park is not listed on the Halifax Solicitor Panel. Is it possible for me to use my prefered solicitor even though they are not on the Halifax approved list?
The limited options available to you here include:
- Carry on with your existing Newbury Park lawyers but Halifax will need to instruct a lawyer on their panel. This will result in additional overall conveyancing fees and result in delays.
- Find a new solicitor to to deal with the conveyancing, remembering to check they are Convince your conveyancer to do everything within their powers to join the Halifax conveyancing panel
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial estate in Newbury Park?
Its becoming the norm that commercial conveyancing solicitors in Newbury Park will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Newbury Park. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Newbury Park.
For every commercial conveyancing transaction in Newbury Park it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Newbury Park commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Newbury Park.
Taking into account that I am about to spend £400,000 on a property in Newbury Park I wish to have a conversation with the solicitor about myhome move prior to instructing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your property ownership legalities in Newbury Park.There is no ‘factory style conveyancing’ - each client is an important person, not a matter reference. The practices that we put you in touch with believe that the fees you are provided with for your conveyancing in Newbury Park should be the figure that you end up paying.
Looking forward to sign contracts shortly on a garden flat in Newbury Park. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Newbury Park should include some of the following:
-
What the implications are if you are in breach of your lease terms? Repair and maintenance of the premises Are you allowed to have a pet in the flat? You should know whether the lease permits you to add or upgrade aspects of the property- you must know whether it relates to all alterations or just structural alteration, and whether licences for alterations is mandated necessary
My wife and I have hit a brick wall in negotiating a lease extension in Newbury Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Newbury Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Newbury Park property is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case related to 1 flat. The unexpired term as at the valuation date was 60.29 years.