I am selling my home in Stratford and the EA has just called to say that the purchasers are switching conveyancer. The reason given is that the bank will only deal with solicitors on their approved list. On what basis would a major lender only engage with specific law firms rather the firm that they want to select for their conveyancing in Stratford ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Mortgage companies point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. 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 hearing daily from firms 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. Your buyers are unlikely to have any sway in the decision.
I am buying a property in Stratford. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that you are obtaining a mortgage with Barclays your lawyer must comply with the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Barclays. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Barclays where a lease does not comply with these provisions. The conditions relate to the installation of panels on properties countrywide and is not restricted to Stratford.
I am expecting a AIP from Santander this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any Stratford solicitors on the Santander conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stratford solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I am selling my house. I had a double glazing fitted in June 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Santander are being a right pain. The Stratford solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Stratford is where the house is located. What do you suggest?
Flying freeholds in Stratford are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stratford you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stratford 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 easy is it to change firm as I have to retain a firm on the Birmingham Midshires conveyancing list. I had appointed a high street conveyancing solicitor in Stratford five minutes from me but she is not approved by Birmingham Midshires
It would be our pleasure to help you find a conveyancing solicitor in Stratford on the Birmingham Midshires panel. Please note that the conveyancers that we list do not pay us commission if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Stratford. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Stratford.
My father-in-law has urged me to appoint his lawyers for conveyancing in Stratford. Should I find my own conveyancer?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to have recommendations from friends or relatives who have used the firm that you are are thinking of instructing.
What are your top tips when it comes to appointing a Stratford conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Stratford conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Stratford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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What are the legal fees for lease extension work?
I am the leaseholder of a two-bedroom flat in Stratford. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Stratford premises is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case was in relation to 2 flats. The unexpired residue of the current lease was 72.02 years.