I am in the process of selling my house in Ashford and the EA has just text me to advise that the purchasers are switching property lawyer. The reason given is that the lender will only work with property lawyers on their conveyancing panel. On what basis would a big named lender only engage with specific solicitors rather the firm that they want to appoint for their conveyancing in Ashford ?
UK lenders have always had panels of law firms that can represent 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 acted for them for over 25 years.
Banks point to the increase in fraud by way of justification for the cull – 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 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. The buyers are not going to have any sway in the decision.
I require expedited conveyancing in Ashford as I have a deadline to complete in less than one month. Thankfully I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you are at liberty not to do searches although no lawyer would advise that you don't. With plenty of history conveyancing in Ashford the following are instances of what can arise and therefore impact future saleability: Enforcement Actions, Outstanding Charges, Overdue Grants, Railway Schemes,...
How straightforward is it to use the search facility to choose a conveyancing solicitor in Ashford on the panel for my lender?
First choose a bank such as Nationwide Building Society, Chelsea Building Society or TSB then type in your location for example Ashford. Conveyancing organisations in Ashford and across England and Wales will then be shown.
I inherited a garden flat in Ashford. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Most certainly. We are happy to put you in touch with a Ashford conveyancing firm who can help.
An example of a Lease Extension case for a Ashford residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The number of years remaining on the existing lease(s) was 82.93 years.
What makes a Ashford lease unmortgageable?
Leasehold conveyancing in Ashford is not unique. Most leases are unique and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:
A provision for the recovery of money spent for the benefit of another party. Insurance obligations
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
How much experience do your Ashford conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Ashford conveyancing lawyers help thousands of people move home every year and assisted plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Ashford conveyancers have worked on recent similar matters.