We wanted to use a conveyancing solicitor in Saltney for our house purchase. Our financial adviser has since notified us that our mortgage lenders Birmingham Midshires won't deal with them. Why is this not regarded as unfair competition?
A decade ago most banks had an appetite for risk which was higher than today. Almost all Saltney conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms about their operations and their employees as well as establishing certain criteria such a completing on a minimum amount of conveyancing. Many Saltney conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Saltney is amongst the numerous locations where the solicitors we recommend are members of the panel for Birmingham Midshires.
Is it the case that all Saltney solicitors on the Nottingham conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be regulated by the SRA. Many banks do allow licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
We previously chose conveyancing lawyers locally in Saltney on the Santander solicitor panel. They have just invoiced me an additional sum for handling the Santander mortgage. Is this a supplemental conveyancing fee set by Santander?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer may charge a fee for this. The fee is not set by Santander but by your Saltney conveyancer. Some firms on the Santander panel will charge an ‘acting for lender’ fee but plenty of practices include it on their overall fee.
After weeks of negotiation I have agreed a price on an apartment in Saltney. My financial adviser recommended their conveyancers. I paid an on account payment of £150. A couple of days later, the solicitor called me sheepishly admitting that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm refinancing my current property to a BTL mortgage with Virgin Money and I will use the rest of the raised equity as a down payment on further house. The area we are looking at is Saltney. Will your solicitors be able to act for the two lenders and link together the transactions?
Do use our comparison tool on this page to ensure that the conveyancers are approved by both banks. Assuming that they are the lawyer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and make clear your desired outcome and requirements.
I need to appoint a conveyancing solicitor for sale conveyancing in Saltney. I happened to chance upon a site which seems to have the ideal answer If there is a chance to get all this stuff completed via email that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am in need of some leasehold conveyancing in Saltney. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is registered - and most are in Saltney - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a garden flat in Saltney, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Saltney with a long lease are worth £197,000. The ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2081
With 55 years remaining on your lease the likely cost is going to span between £31,400 and £36,200 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
Builders have recommended to me a conveyancer and I've obtained a quote from them. It's nearly £300 less expensive than my preferred Saltney property lawyer. What's the catch?
Builders normally have lists of conveyancing practitioners who are quick and who know the developer’s paperwork and lawyer. As many developers offer an incentive to use a preferred solicitor for this reason, any increased cost can be avoided and a developer will not suggest a conveyancing warehouse and run the risk of having the transaction delayed when they require an exchange in 28 days. A counter-argument for not opting for the suggested conveyancer is that they may be reluctant to 'push' your interests for fear of alienating the sellers. Where you have concerns that this may be the case you should stick with your local Saltney conveyancing practitioner.