I am nearing exchange of contracts for my maisonette in Tonbridge and the EA has just text me to warn that the buyers are appointing a new property lawyer. 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 major lender only work with certain law firms rather the firm that they want to select to handle their conveyancing in Tonbridge ?
Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal 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 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 not going to have any impact on this.
My lawyer has uncovered a a problem with the lease for the apartment we are buying in Tonbridge. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer says that he must check that the lender is content with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. The appropriate lender conditions have to be complied with.
A friend recommended that where I am buying in Tonbridge I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Tonbridge conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Tonbridge around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Tonbridge Education with maps and statistics, Local Amenities and other useful data regarding Tonbridge.
I used Action Conveyancing a few years past for my conveyancing in Tonbridge. I now require my papers however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Tonbridge 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.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Tonbridge is the location of the property. What do you suggest?
Flying freeholds in Tonbridge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tonbridge you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tonbridge may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.