Unfortunately I am unable to travel far from Ruislip. Is there a reason why all Ruislip conveyancing practitioners are not on all bank panels?
A decade ago most lenders had an approach to risk which is different from today. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the solicitors on your panel. Accordingly, banks have since soughtmore data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of amount of transactions the lenders required.
Would the conveyancing solicitors that you recommend handle conveyancing in Ruislip by way of an attended exchange?
There are a few conveyancing experts who can conduct 24hr exchanges. You should e-mail us to receive a conveyancing quote and details as to dates.
The Ruislip conveyancing firm that I recently instructed on my purchase in Ruislip have suddenly closed. I only went with them because I had to have a lawyer on the Clydesdale conveyancing panel and my family Ruislip lawyer was not. I paid them 275 plus VAT in advance. What do I do now?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
How does conveyancing in Ruislip differ for new build properties?
Most buyers of new build residence in Ruislip approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Ruislip typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ruislip or who has acted in the same development.
Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Ruislip I like with amenity areas and transport links in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Ruislip for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.