I am nearing exchange of contracts for my flat in Prestbury and the EA has just called to advise that the purchasers are swapping solicitor. I am told that this is due to the fact that the lender will only work with property lawyers on their conveyancing panel. Why would a major lender only engage with specific solicitors rather the firm that they want to select for their conveyancing in Prestbury ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to monitor. 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 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 buyers are unlikely to have any impact on this.
My wife and I are purchasing a flat in Prestbury. It might be a silly question but how we can trust a lawyer? At some point we have to put money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My aunt informed me that in purchasing a property in Prestbury there may be various restrictions prohibiting external alterations to a property. Is this right?
There are anumerous of properties in Prestbury which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Prestbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are planning to move house in October. Does my conveyancing solicitor call the removal company on the day of completion. As an aside, can you recommend a removal company in Prestbury. Conveyancing firm was chosen before I stumbled across this site.
On the day of completion you can pick up the keys from your estate agent however this should only occur once the previous owners solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be collected. Subsequently you will need to tell the removal men that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can assist you in choosing a conveyancing in Prestbury or a solicitor with expertise in conveyancing in Prestbury.
Should our lawyer be raising questions concerning flooding during the conveyancing in Prestbury.
Flooding is a growing risk for lawyers dealing with homes in Prestbury. There are those who acquire a property in Prestbury, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a various checks that can be undertaken by the buyer or by their lawyers which will give them a better understanding of the risks in Prestbury. The standard property information forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to find out whether the property has suffered from flooding. If the residence has been flooded in past and is not revealed by the seller, then a buyer could bring a compensation claim as a result of such an incorrect reply. A buyer’s conveyancers may also carry out an environmental report. This will disclose whether there is any known flood risk. If so, further inquiries will need to be initiated.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Prestbury is the location of the property. Is there any advice you can give?
Flying freeholds in Prestbury are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Prestbury you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Prestbury may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How does the Landlord & Tenant Act 1954 impact my commercial property in Prestbury and how can your lawyers assist?
The particular law that you refer to gives security of tenure to commercial lessees, giving them the right to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Prestbury is one of our many locations in which our lawyers are based
My husband and I are four weeks into a residential purchase having been referred to a firm by the local agent to execute conveyancing in Prestbury. I am am very disappointed with the quality of service. Could you you assist me in finding new conveyancers?
They would need to be very poor in order to consider changing them. Has your mortgage offer been sent? If so you need to make them aware of the replacement lawyer and ensure the loan are re-issued. Your new conveyancer should be on the banks approved list to avoid added expenses and frustration. So that should be your starting point. Our search tool can help you find a lender approved lawyer for your home move in Prestbury