I am in the process of selling my home in Riddlesdown and the estate agent has just text me to say that the purchasers are switching solicitor. The reason given is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in Riddlesdown ?
Banks have always had panels of law firms that can act for them, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders justify this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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. Your buyers are unlikely to have any sway in the decision.
Do the conveyancing solicitors identified via your search tool execute conveyancing in Riddlesdown by way of an attended exchange?
We do have a number of conveyancing specialists carrying out attended exchanges. Please contact us to get a fee calculation and details as to dates.
What happens if my lawyer’s firm is suspended from the TSB Conveyancing panel ahead of completing my conveyancing in Riddlesdown?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am buying a new build house in Riddlesdown with the aid of help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not reveal to my conveyancer about this extras as it would put at risk my loan with Aldermore. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I’m about to sell my garden apartment in Riddlesdown. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as you normally would because all ground rent and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until 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.
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Riddlesdown. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.
An example of a Freehold Enfranchisement case for a Riddlesdown property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The remaining number of years on the lease was 78.32 years.
We are seeking to purchase a repression property in Riddlesdown and the vendor would like to complete inside a month. Can a lawyer meet that timeframe? Am I best advised to instruct a high street Riddlesdown firm or an online conveyancer that professes to complete quickly?
Visit your Riddlesdown shopping parade. Go in to a couple of solicitor’s offices and ask to talk to a conveyancing solicitor for a quote. Discuss your requirements and get a commitment on time frames. Select the firm that appears most genuine. Make sure to select a conveyancer on the panel of lawyers approved by your lender.