I am nearing exchange of contracts for my flat in Rainham and the estate agent has just e-mailed to warn that the buyers are changing their property lawyer. The reason given is that the lender will only engage with property lawyers on their conveyancing panel. Why would a major mortgage company only work with specific solicitors rather the firm that they want to choose for their conveyancing in Rainham ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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. The purchasers are not going to have any sway in the decision.
I require conveyancing for an apartment in a fairly new development (five years old) in Rainham. Almost all the flats are already occupied. Is it really necessary to order local searches for my conveyancing in Rainham?
If you are buying a property with the assistance of a mortgage, your mortgage company will require some (many) of the searches so you'll have no choice. If not, then Rainham conveyancing searches are for you to decide upon. No doubt your conveyancer, will 'advise', perhaps in the strongest possible terms, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you may need to find a new lawyer for your conveyancing in Rainham.
It is 10 years ago since I acquired my property in Rainham. Conveyancing solicitors have just been instructed on the sale but I am unable to track down the title documents. Will this cause complications?
You need not be too concerned. Firstly the deeds may be kept by your mortgage company or they may be in the possession of the lawyers who handled your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. The vast majority of conveyancing in Rainham involves registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
Having invested time reviewing online forums for a recommended lawyer in Rainham, most say that I should use a CQS assured lawyer. Can you explain what CQS is?
Rainham Conveyancing Quality Scheme practices have achieved accreditation by the law Society CQS was created to promote high standards in the home moving process. CQS helps house movers to recognise practices that provide a quality residential conveyancing. Rainham is one of the many areas in England and Wales in which accredited firms have offices. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
How does conveyancing in Rainham differ for newly converted properties?
Most buyers of new build premises in Rainham approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Rainham typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Rainham or who has acted in the same development.
My plan is to acquire a ground floor maisonette in Rainham. Conveyancing lawyer has been awaiting, from the owner, building insurance paperwork. Earlier today I was informed that the seller must send the insurance schedule for the flat above also. Why does my lawyer need to see the insurance for the flat above? Is it really required? We have been in hold for the last fortnight…
It is not impossible in leasehold conveyancing in Rainham to discover Conveyancing in Rainham in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats rather than the landlord insuring the entire building - which is clearly preferable. Do contact your solicitor but it would seem that your conveyancer is looking to verify that the entire building is insured. Insuring your apartment is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt due to lack of insurance.