I am selling my home in Streatham and the EA has just e-mailed to warn that the buyers are appointing a new law firm. The excuse is that the lender will only work with solicitors on their conveyancing panel. On what basis would a big named lender only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Streatham ?
Banks have always had panels of law firms they are content to work with, but in the past 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 many years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. 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 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. The buyers are not going to have any sway in the decision.
At what point will exchange of contracts take place for sale conveyancing in Streatham and do I need to be at the conveyancers office?
Where you are near to one of the conveyancing solicitors in Streatham you are welcome to come in to sign contracts. However, the lender approved solicitors we work with provide a nationwide conveyancing service and provide just as detailed and professional a job for you when dealing with you electronically. The executing of the contract is not the point of no return. Signing on the dotted line is necessary for the conveyancer to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Streatham)to be in the office at the appropriate time.
Is there a list of Clydesdale panel conveyancers in Streatham on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings open the public on the web. If you are in need of a Streatham conveyancer on the Clydesdale please make the most of our tool.
I am purchasing a property in Streatham. One unusual aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Nationwide your lawyer must follow the formal instructions set out in Part two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook contains minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Nationwide where a lease does not satisfy these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Streatham.
Completion of my purchase has taken place for my property in Streatham. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I have todaydiscovered that Stirling Law have been shut down. They conducted my conveyancing in Streatham for a purchase of a freehold house 10 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Streatham conveyancing specialists.
I need to appoint a conveyancing solicitor for my conveyancing in Streatham. I have stumble across a web site which appears to be the ideal answer If there is a chance to get all formalities done via phone that would be preferable. Should I be concerned? 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've recently bought a leasehold property in Streatham. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a a ground floor purpose built flat in Streatham. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Lease Extension case for a Streatham premises is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case related to 1 flat. The unexpired term was 23.25 years.