I am selling my house in Mousehole and the EA has just called to advise that the purchasers are appointing a new law firm. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only work with specific lawyers rather the firm that they want to choose to handle their conveyancing in Mousehole ?
Banks have always had panels of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies attribute this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. 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. Some 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. Your buyers are unlikely to have any impact on this.
is it true that all Mousehole solicitor firms on the Nottingham conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nottingham conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
I recently had an offer accepted on a house in Mousehole. My mortgage broker pressured me to appoint their property lawyer. I paid an on account payment of £150. Shortly after, the solicitor called me embarrassingly acknowledging that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
After shopping around on the internet I have found a Mousehole conveyancing practitioner having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Mousehole postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Mousehole.
Are there any apps to assist me to locate a Mousehole solicitor on the Coventry Building Society conveyancing panel? I have a car and am willing to travel upto 20miles to meet the solicitor.
Feel free to make use of the facility on this page. Please select a bank and your location and you will see a number of Mousehole conveyancing lawyers based on proximity. We have detailed some Mousehole conveyancing firms at the bottom of this page and you can call them to see if they are on the Coventry Building Society member panel
We are 17 days into a residential purchase having been recommend to a firm by the selling agent to carry out the conveyancing in Mousehole. I am am very dissatisfied with the quality of service. Could you help me find new lawyers?
They would need to be very bad to suggest replacing them. Has the mortgage offer been issued? If so you must advise them of the new lawyer and get the loan are re-issued. The conveyancer needs to be on the banks approved list to avoid supplemental expenses and complications. That should be your first question of the new conveyancers. Our find a solicitor tool should help you find a lender approved conveyancer for your home move in Mousehole
Can you provide any top tips for leasehold conveyancing in Mousehole with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Mousehole can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers’ conveyancers. The majority of landlords or Management Companies in Mousehole charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Mousehole. If you hold a share in a the Management Company, you should ensure that you hold the original share document. Arranging a replacement share certificate is often a time consuming formality and slows down many a Mousehole conveyancing deal. Where a reissued share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible. Some Mousehole leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Mousehole state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such alterations. If you dont have the approvals in place you should not communicate with the landlord without checking with your conveyancer in advance.
I invested in buying a garden flat in Mousehole, conveyancing was carried out July 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Mousehole with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ends on 21st October 2074
With just 55 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.