I am progressing with the sale of my house in Stanmore and the estate agent has just e-mailed to advise that the purchasers are switching solicitor. The reason given is that the mortgage company will only deal with property lawyers on their approved list. Why would a leading mortgage company only engage with specific law firms rather the firm that they want to select to handle their conveyancing in Stanmore ?
Mortgage companies have always had panels of law firms that can represent them, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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. Some 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.
Can the conveyancing lawyers to be found on your site execute auction conveyancing in Stanmore?
We know of a number of auction lawyers we can connect you with those conducting auction conveyancing. Stanmore is one of the many locations where our lawyers have offices.
We're in Stanmore, First time buyers purchasing with a mortgage (lender is Aldermore , and our solicitor is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
There is lots of information on this site regarding conveyancing in Stanmore but can you isolate your top tip for selecting the right conveyancer in Stanmore
It would be unwise to be seduced by the lowest Stanmore conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are getting the release of further funds on our home loan from Co-operative as we wish to conduct renovations to our house in Stanmore. Do we need to appoint a nearby Stanmore solicitor on the Co-operative conveyancing panel to deal with the legals?
Co-operative don't usually instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Stanmore is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
How do I search for a Stanmore solicitor on the Santander conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the conveyancer.
You can use the search on this website. Please pick a lender and your location and you will see a number of Stanmore conveyancing lawyers locally. We have listed some Stanmore conveyancing firms at the bottom of this page and you can call them to see if they are on the Santander panel
If all goes to plan we aim to complete the sale of our £175,000 maisonette in Stanmore next week. The landlords agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Stanmore?
Stanmore conveyancing on leasehold maisonettes more often than not requires the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are entitled to levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I am the leaseholder of a basement flat in Stanmore. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to make a decision on the price payable.
An example of a Lease Extension matter before the tribunal for a Stanmore flat is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case affected 1 flat. The number of years remaining on the existing lease(s) was 70.25 years.