I am nearing exchange of contracts for my apartment in Hastings and the EA has just telephoned to advise that the purchasers are changing their conveyancer. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. On what basis would a major lender only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Hastings ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some 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. Your purchasers are unlikely to have any sway in the decision.
We are buying a flat and require a conveyancing solicitor in Hastings who is on the Skipton solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Skipton . We don't recommend any particular firms conducting conveyancing in Hastings.
We're in Hastings, First time buyers buying with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I used Stirling Law several years ago for my conveyancing in Hastings. Now, I need my files but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hastings of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Having had my offer accepted I require leasehold conveyancing in Hastings. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Hastings - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a basement flat in Hastings, conveyancing having been completed in 2012. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Hastings with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2083
You have 62 years remaining on your lease we estimate the price of your lease extension to be between £17,100 and £19,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.