I am progressing with the sale of my apartment in Hedge End and the estate agent has just text me to say that the buyers are switching property lawyer. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Hedge End ?
UK lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say 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 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.
Me and my partner are soon to exchange on the purchase of a house in Hedge End but as a consequence of damage from a small fire at the property I have was able negotiate compensation from the owner in the sum of £2k in the form of a deduction in the price. I had intended this to be addressed as part of amending the contract however Santander are not allowing this. Why were they notified?
Your lawyer being on the Santander approved list is duty bound to inform Santander of any variations to the purchase price. If you prohibit your conveyancing practitioner to report the reduction to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new conveyancing practitioner for your conveyancing in Hedge End.
I purchased a freehold house in Hedge End yet charged rent, why is this and what is this?
It is rare for properties in Hedge End and has limited impact for conveyancing in Hedge End but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Given that I am about to part with hundreds of thousands of pounds on a house in Hedge End I would like to have a conversation with the conveyancer concerning theconveyancing before instructing the firm. Is this something that you can arrange?
This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you first talking to the solicitor due to be doing your property ownership legalities in Hedge End.There is no ‘factory style conveyancing’ - each client is unique person, not a case number. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Hedge End should be the amount on the final invoice that you end up paying.
In my capacity as executor for the will of my uncle I am disposing of a property in Newport but live in Hedge End. My lawyer (who is 250 kilometers from merequires that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Hedge End to witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Hedge End based