I am nearing exchange of contracts for my maisonette in Westcliff On Sea and the EA has just e-mailed to warn that the buyers are switching solicitor. The reason given is that the mortgage company will only deal with solicitors on their approved list. Why would a big named mortgage company only work with certain lawyers rather the firm that they want to select for their conveyancing in Westcliff On Sea ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to oversee. No lender will say 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. Plenty of firms 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 unlikely to have any impact on this.
It is is a decade since I bought my property in Westcliff On Sea. Conveyancing lawyers have just been instructed on the sale but I can't locate the deeds. Is this a problem?
You need not be too concerned. First the deeds may be retained by your mortgage company or they may be in the possession of the lawyers who oversaw the purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. The vast majority of conveyancing in Westcliff On Sea involves registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
I'm refinancing my primary home to a buy to let loan with Norwich and Peterborough Building Society and I will use the rest of the raised equity as a deposit on further house. The area we are interested in is Westcliff On Sea. Will your conveyancers be able to act for both sets of mortgage companies and link together the conveyances?
Do use our comparison tool on this site to check that the lawyers are on the appropriate lender panels. Assuming that they are the lawyer will be able to tie up the two conveyancing matters but you should talk with you lawyer and specify your expectations and requirements.
We're FTB’s - had an offer accepted, but the selling agent has warned us that the vendor will only proceed if we appoint their chosen lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer who is familiar with conveyancing in Westcliff On Sea
We suspect that the owner is not behind this ultimatum. If they desire ‘a quick sale', turning down a genuine purchaser is counter productive. Avoid the agents and go straight to the owners and make the point that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you are going to instruct your preferred Westcliff On Sea conveyancing solicitors - not the ones that will earn the negotiator at the agency a kickback or hit his conveyancing thresholds demanded by HQ.
I have just started marketing my ground floor apartment in Westcliff On Sea. Conveyancing has not commenced, however I have recently had a quarterly maintenance charge demand – what should I do?
It best that you clear the service charge as you normally would given that all rents and maintenance charges will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a leasehold flat in Westcliff On Sea, conveyancing was carried out in 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Westcliff On Sea with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2089
With just 64 years left to run we estimate the premium for your lease extension to range between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
I am considering using a web based lawyer ahead of a Westcliff On Sea conveyancing firm. Any advice?
There are advantages of having the opportunity to visit a local Westcliff On Sea conveyancing solicitor such as
- signing documents same day
- getting face-to-face explanations of matters that you need help with
- the ability to complain if matters go pear-shaped
When checking estimates, look carefully for hidden extras. The majority decent Westcliff On Sea high street solicitors give an all-inclusive price. Many online agents appear to offer low cost fees, but have burried 'extras' in the fine print.