I am five weeks into the sale of my home in Pimlico and the EA has just called to advise that the purchasers are swapping property lawyer. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. On what basis would a big named mortgage company only engage with certain lawyers rather the firm that they want to choose to handle their conveyancing in Pimlico ?
Mortgage companies have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose 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 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 buyers are not going to have any sway in the decision.
The sellers of the house we are looking to purchase have appointed a conveyancing practitioner in Pimlico who has insisted on a lock out contract with a deposit two thousand pounds. Are such contracts appropriate for Pimlico conveyancing transactions?
Exclusivity agreements are agreements between a home owner and prospective buyer giving the buyer exclusive rights to purchase the property for a set period of time. Essentially, an exclusivity is a document specifying that you should have a contract at a later time being the contract for the actual sale. It is generally utilised for buyer assurance though in some cases, the proprietor may stand to benefit from such agreements as well. There are many positives and negatives to having an agreement but you should to check with your conveyancer but beware that it may end up incurring extra in conveyancing fees. For these reasons these contracts are avoided in relation to conveyancing in Pimlico.
After reading moneysavingexpert.com for an online lawyer in Pimlico, most advise that I should instruct a CQS accredited solicitor. What is CQS?
Pimlico Conveyancing Quality Scheme solicitors have obtained certification under the Law Society's Scheme (CQS) The Law Society established CQS to establish evidence of quality standards in the home legal process. CQS helps house movers to identify practices that provide a quality residential conveyancing. Pimlico is one of the many areas in England and Wales in which CQS are located. The conveyancing scheme requires practices to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Building Societies Association.
I am helping my step-mother sell her flat in Pimlico. Will the solicitor commission an energy assessment or do I organise this?
After the demise of HIPs, EPC’s became a required element of selling a house. An energy performance certificate must be to hand before the property is placed on the market. This is not something that conveyancers ordinarily arrange. If you are instructing a Pimlico conveyancing lawyer they might help arrange energy assessments given their contacts with reputable local accredited person
I happen to be the single beneficiary of my late grandmother’s estate and I have everything in my name alone, including the my former home in Pimlico. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be considered the same way as though I had purchased the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. many lenders would take a sensible view as this requirement is chiefly there to capture subsales or the wholesaling and assigning of properties.
We expect to receive a OIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Pimlico solicitors on the Yorkshire BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Pimlico solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
As co-executor for the estate of my aunt I am disposing of a house in Neath but reside in Pimlico. My conveyancer (approximately 235 miles awayneeds me to execute a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Pimlico to attest this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are based in Pimlico
What type of premises does your Pimlico conveyancing quotes relate to?
The quotes supplied are only appropriate to standard domestic property in England & Wales. Where you have any different requirements such as industrial or agricultural land or commercial conveyancing in Pimlico do contact us to address this further .