I am in the process of selling my flat in Langley and the EA has just called to say that the buyers are switching law firm. The excuse is that the lender will only deal with property lawyers on their approved list. Why would a leading lender only work with specific solicitors rather the firm that they want to select for their conveyancing in Langley ?
Banks have always had an approved set of law firms that can represent them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Mortgage companies attribute this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 impact on this.
We are due to exchange on the purchase of a house in Langley but as a consequence of wreckage from some water damage at the property I have managed to agree compensation from the seller of three thousand pounds by way of a deduction in the price. I had intended this to be addressed as part of a side agreement but Co-operative are not allowing this. Should they have been approached?
Any property lawyer that is on a Co-operative approved list is obliged to advise Co-operative of any changes to the sale price. If you prohibit your property lawyer to notify the reduction to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new lawyer for your conveyancing in Langley.
My bid for a property was accepted at auction in Langley. Conveyancing is necessary. What happens now?
Given that you are now exchanged you should retain a conveyancing solicitor quickly as you will have a tight a drop dead date to complete the purchase. All auction property will have a bespoke auction set of papers. This should include most,if not all of the documents that your conveyancer requires. Where you are dealing with leasehold property the conveyancing pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You need to pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in order to complete the transaction on the set completion date.
We have agreed to purchase a house in Langley. One unusual aspect is that the roof has a solar panel. Clydesdale have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Clydesdale your lawyer must check the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Clydesdale where a lease fails to meet these requirements. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Langley.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leeds Building Society are being problematic. The Langley solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
3 months have gone by following my purchase conveyancing in Langley completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Taking into account that I will soon spend 450k on 3 bedroom house in Langley I would like to have a conversation with the lawyer concerning thehouse move ahead of giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be doing your conveyancing in Langley.There is no ‘factory style conveyancing’ - each client is unique person, not a case number. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Langley should be the amount on the final invoice that you end up paying.