I am selling my apartment in Orpington and the EA has just telephoned to advise that the buyers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only engage with specific law firms rather the firm that they want to choose to handle their conveyancing in Orpington ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. 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. 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 impact on this.
I am hoping to complete my purchase in Orpington next Monday. My property lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not specific to conveyancing in Orpington.
We are due to move home in November. Does my conveyancing solicitor update the removal company on the completion day. On a separate note, can you suggest a removal company in Orpington. Conveyancing lawyer was found prior to coming across your site.
On the day of completion you can collect the house keys from your selling agent but this can only be done after the sellers solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be passed over. Subsequently you should tell the removal men that they can start moving you in. As a matter of policy we do not recommend a particular removal organisation but can help you find a conveyancing in Orpington or a lawyer that specialises in conveyancing in Orpington.
When it comes to lenders such as Nottingham, do Orpington solicitors face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
The mortgage over my property is with Bank of Ireland for my property in Orpington. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval in advance of renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel lawyer.
I used Action Conveyancing a few years ago for my conveyancing in Orpington. Now, I need the files but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Orpington of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £195,000 and identified one near me in Orpington I like with a park and transport links nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Orpington in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I am looking into buying my first house which is in Orpington and I am already nervous. I couldn't find anything specific about Orpington. Conveyancing will be needed in due course but do you know about the Orpington area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Orpington. In the meantime here are some basic statistics that we found