Unfortunately I am unable to travel far from Thamesmead. Is there a reason why all Thamesmead conveyancing practitioners aren't automatically on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.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 mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies purging less reputable firms from their panel of approved conveyancing practitioners .
We have very brash vendors who has recommended a exclusivity agreement with a payment 6,000. Are such contracts the norm for Thamesmead conveyancing transactions?
This form of arrangement is not the norm in Thamesmead, conveyancers are not keen on them as they divert attention from the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. Secondly, there is no assurance that just because the seller has entered into a lock out agreement they will sell to you. They may be motivated to break the contract if they are offered a large enough financial inducement to do so because an aggrieved buyer with the benefit of a exclusivitycontract will still be obliged establish consequential losses from the breach and these may not amount to the extra amount that the owner may secure by breaching the agreement, no matter how morally condemnable the behaviour is.
At what point does exchange of contracts happen for sale conveyancing in Thamesmead and am I required to be at the conveyancers office?
If you are round the corner to one of the conveyancing solicitors in Thamesmead you are invited in to sign the paperwork. However, the law practices we work with supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when dealing with you by post or email. The signing of the contract is not the important part. A signed contract simply enables the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Thamesmead)to be in the office at the appropriate time.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Thamesmead?
There are two types of lawyers who can perform conveyancing in Thamesmead namely licenced conveyancers or solicitors. The two can provide the legal services that required to complete the sale or purchase of property. Both are obliged to perform Thamesmead conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly carried out and that all requirements and procedures will be correctly taken.
Are all Thamesmead Conveyancing Quality Solicitors on the Yorkshire BS conveyancing list of approved practices?
It is true that some banks and building societies now utilise the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I have paid off my mortgage with Barclays. I assume I don't need a Thamesmead solicitor on the Barclays panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Thamesmead I like with open areas and railway links nearby, however it's only got 52 years on the lease. There is not much else in Thamesmead for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Am I right to be wary that estate agents that I am dealing with are suggesting an internet conveyancing firm rather than a local Thamesmead conveyancing firm?
As with lots of service providers, often referrals from connections can be most helpful. But there are numerous parties with a vested interest in a conveyancing matter; estate agents, financial adviser and banks might all recommend conveyancers to choose. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there exists a financial incentive behind the endorsement. You are at liberty to select your preferred lawyer. You need to be aware that many mortgage providers operate an approved list of lawyers you are obliged to use for the lender related work in your house move.