I am in the process of selling my ground floor flat in Stroud and the estate agent has just text me to advise that the buyers are appointing a new conveyancer. The reason given is that the bank will only work with solicitors on their approved list. Why would a major lender only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Stroud ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies blame a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to monitor. 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 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. The purchasers are unlikely to have any sway in the decision.
We are a couple about to sign contracts for a garden flat in Stroud. We encountered a stumbling block. Our loan offer with Birmingham Midshires runs out on 12/7/2021 but the sellers are insisting on a completion date of 14/7/2021. Is it possible to prolong the loan expiry date?
The person best placed to deal with your question is your lawyer who will hopefully assess if they should be discussing with the mortgage broker, seller’s representatives, estate agents or conceivably all parties taking into account what has gone on in your conveyancing to date.
I am assisting my mother sell her house in Stroud. Does the conveyancing solicitor order an EPC or should I organise this?
After the abolition of Home Packs, energy assessments was maintained a mandatory element of moving house. An energy assessment needs to be to hand before the property is advertised. This is not a task that solicitors normally arrange. If you are instructing a Stroud conveyancing solicitor they may help arrange energy assessments due to their contacts with long established Stroud assessors
I am purchasing a victorian detached house in Stroud. Our aim is to an extension at the rear at the house.Will legal work on the property include enquiries to see if these works are allowed?
Your property lawyer will check the registered title as conveyancing in Stroud will occasionally identify restrictions in the title deeds which prevent categories of alterations or require the consent of another owner. Many extensions call for local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
I was told four weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Stroud is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am looking to sell my house. My past conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Stroud if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Stroud. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
Are there frequently found defects that you come across in leases for Stroud properties?
There is nothing unique about leasehold conveyancing in Stroud. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
Service charge per centages that don't add up correctly leaving a shortfall
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Virgin Money, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
Stroud Leasehold Conveyancing - Examples of Queries Prior to Purchasing
Be sure to discover if there are any onerous restrictions in the lease. For instance it is very common in Stroud leases that pets are not allowed in in a block in Stroud. If you like the propertyin Stroud but your dog is not allowed to live with you then you will be presented with a hard decision. What is the annual maintenance fee and ground rent? How is the lease structured?