I am not in a position to travel far from Reigate. What is the rationale as to why all Reigate lawyers aren't automatically on all mortgage company panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It led to banks and building societies pruning a number of firms from their official list of approved conveyancers .
I am buying a new build duplex in Reigate and my lawyer is informing me that she has to the bank to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
About to place a bid on a leasehold flat in Reigate. The property agents assure me that it is the norm for flats in Reigate to have less than 75 years remaining. I am expecting a mortgage with Platform. Is this going to be a problem if the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 2/10/2024 the requirements read as follows :
I used Arc property Solicitors several years ago for my conveyancing in Reigate. I now require my file but the law firm is no longer operating. What do I do?
Do 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 Reigate 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.
What does commercial conveyancing in Reigate cover?
Non domestic conveyancing in Reigate incorporates a wide range of services, given by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
In searching the internet for the words cheap conveyancing in Reigate it shows results of numerous property lawyersin the area. How do I determine which is the suitable solicitor for the sale of my house?
The preferential way of finding the right conveyancer is through a trusted testimonial, so ask colleagues and those you trust who have acquired a property in Reigate or the respected estate agent or mortgage broker. Charges for conveyancing in Reigate differ, so it's advisable to secure a minimum of three estimates from varying types of companies. Dont forget to clarify what costs in the quote includes.