My wife and I are buying a 2 bedroom flat in Old Stratford with a mortgage. We would like to retain our Old Stratford lawyer, however the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel firms or retain our Old Stratford as well as pay for one of their panel ones to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Old Stratford conveyancing lawyer to apply to be on the conveyancing panel.
The Old Stratford conveyancing solicitors that I recently instructed on my house acquisition in Old Stratford have suddenly shut down. They were on acting for me because I needed a solicitor on the conveyancing panel and my previous Old Stratford lawyer was not. I cut them a cheque for two hundred pounds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
We are aiming to move home in . Will my conveyancing solicitor call the removal company on the completion day. On a separate note, can you suggest a removal company in Old Stratford. Conveyancing solicitor was organised prior to coming across this site.
On the afternoon of completion you can pick up the house keys from your selling agent however this can only be done when the previous owners solicitors inform the agent that they have the completion monies and the keys can be passed over. Subsequently you can advise the removal company that they can start moving you in. We do not recommend a particular removal organisation but can help you locate a residential property solicitor in Old Stratford or a legal practice that specialises in conveyancing in Old Stratford.
I am selling my apartment. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, are being a right pain. The Old Stratford solicitor who is on the conveyancing panel is recommending indemnity insurance as a solution but are insisting on a building regulation certificate. Why do have a conveyancing panel if they don't accept advice from them?
It is probably the case that have referred the matter to their valuer. The reason why 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.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Old Stratford solicitor - who is on the conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
will need an independent valuation of the property. Your lawyer will not arrange this. Usually will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Old Stratford postcode. As you are getting a mortgage with , you could contact them to see if they have a list of approved surveyors in Old Stratford.
I own a basement flat in Old Stratford, conveyancing was carried out 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Old Stratford with a long lease are worth £165,000. The ground rent is £45 yearly. The lease terminates on 21st October 50
With just 50 years left to run we estimate the price of your lease extension to range between £36,100 and £41,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
My lawyer in Old Stratford is asking me for personal identification documents saying that this forms part of his obligations as a conveyancer on the lender Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Old Stratford conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the lender's UK Finance Lenders’ Handbook requirements