Unfortunately I am unable to travel far from Woolwich. I would like to know the logic why all Woolwich property lawyers are not on all mortgage company panels?
Banks ordinarily restrict either the type or volume of conveyancing solicitors on their approved list of lawyers. Typical examples of such criteria being that a organisation must have at least two partners. In addition to restricting the type of firm, some lenders made a decision to limit the size of their panel they allow to act for them. It is worth noting that mortgage companies have no liability for the accuracy of service supplied by any Woolwich conveyancing practitioner on their panel. Property fraud was the main trigger for the rationalisation of solicitor panels a few years ago even though there are conflicting views about whether solicitors sat at the center of that fraud. Data published by HM Land Registry indicates that thousands of law firms only conduct less than three conveyances a year. Those advocating conveyancing panel culls ask why law firms should have any entitlement to be listed on a conveyancing panel when clearly conveyancing is not their speciality?
The Woolwich conveyancing firm handling our Woolwich conveyancing has discovered an inconsistency between the surveyor’s assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am the registered owner of a freehold house in Woolwich yet charged rent, why is this and what is this?
It’s unusual for properties in Woolwich and has limited impact for conveyancing in Woolwich but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Are there restrictive covenants that are commonly identified during conveyancing in Woolwich?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Woolwich. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it possible to swap firm as I need to appoint a firm on the TSB conveyancing list. I hired a local conveyancing solicitor in Woolwich round the corner but she is not accepted by TSB
We will our best to assist in finding you a conveyancing solicitor in Woolwich on the TSB panel. Please note that the conveyancers that we work with do not pay us commission if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Woolwich. Using search facility on this website, you can scrutinise fees for conveyancing solicitors in Woolwich and beyond.