I am selling my maisonette in Wandsworth and the estate agent has just text me to warn that the purchasers are swapping law firm. The excuse is that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major lender only work with certain lawyers rather the firm that they want to choose to handle their conveyancing in Wandsworth ?
UK lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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. The buyers are not going to have any sway in the decision.
In the event thatI were to purchase a freehold propertyin Wandsworth mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to to save on my conveyancing in Wandsworth?
The only reduction in fees you would make on is the Wandsworth conveyancing searches. A conveyancing practitioner is required to do the vast majority of work - money laundering, liaising with your vendors solicitor, SDLT return, register the ownership etc. You might save a bit for them not having to register a mortgage but it will not be a lot.
My friend advised me that if I am purchasing in Wandsworth I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Wandsworth conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Wandsworth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Wandsworth.
In my capacity as executor for the will of my grandfather I am selling a residence in Cardiff but live in Wandsworth. My lawyer (approximately 200 kilometers awayhas requested that I execute a stat dec prior to completion. Could you suggest a conveyancing lawyer in Wandsworth who can attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are located in Wandsworth
All being well we will complete the sale of our £150,000 garden flat in Wandsworth in just under a week. The management company has quoted £300 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Wandsworth?
Wandsworth conveyancing on leasehold maisonettes typically necessitates administration charges invoiced by management companies :
Completing pre-exchange questions
Where consent is required before sale in Wandsworth
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Wandsworth. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
You certainly can. We can put you in touch with a Wandsworth conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Wandsworth property is 4 Galveston Road in August 2012. The Tribunal determined that the price payable in respect of the purchase of the freehold was £22,650. The Tribunal remited this matter back to the Wandsworth County Court for execution of the freehold Transfer Deed. This case was in relation to 2 flats.
Me and my partner are about to exchange on the purchase a property in Wandsworth but as a consequence of damage from the recent storms I have negotiated recompense from the seller of £2k by way of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process but the mortgage company will not agree to this. Should they have been informed?
The lawyer listed on a bank approved list is obliged to advise the lender of any changes to the sale figure. If you did not allow your conveyancer to report the price change to your lender then they would have no choice but to refrain from representing you and the bank.