I am not well enough to travel far from Albrighton. What is the rationale as to why all Albrighton conveyancers are not on all lender panels?
Banks point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in lenders removing less reputable firms off their panel of approved conveyancing practitioners .
I am planning on selling our property in Albrighton and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Albrighton lawyer would know that there is no such problem. It does beg the question why the purchasers are using a nationwide conveyancing practice rather than a conveyancing solicitor in Albrighton. Having lived in Albrighton for three years we know of no issue. Do we contact our local Authority to get clarification need.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Albrighton I like with open areas and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Albrighton in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have been pointed in your direction by numerous property agents in Albrighton to choose a solicitor on your site. What’s the financial upside for Estate Agents to promote your lawyers over and above another?
We refuse to give any commission for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am a fortnight into a leasehold purchase having been referred to conveyancers by the high street agent to execute conveyancing in Albrighton. We are not happy. Can you you assist me in finding new conveyancers?
A conveyancer would need to be really bad in order to consider replacing them. Has the mortgage offer been sent? If so you will need to advise them of the new contact details and have the loan are re-sent. Your solicitor ideally needs to be on the mortgage company panel to avoid supplemental fees and complications. That should be your first question of the new solicitors. Our find a solicitor tool can help you find a lender approved conveyancer for your home move in Albrighton