Is the fact that my solicitor in Edgbaston is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Edgbaston conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
IfI were to purchase a straightforward homein Edgbaston for cash and have no survey and no conveyancing searches how much could I expect to to save on my conveyancing in Edgbaston?
The only reduction in fees you would make on is the costs for searches. The conveyancing practitioner still got to do everything else - money laundering, communicating with your vendors lawyer, SDLT submission, register the ownership etc. You might save a bit for them not having to register a charge but it won't be a lot.
I purchased a freehold property in Edgbaston but still charged rent, why is this and what is this?
It is rare for properties in Edgbaston and has limited impact for conveyancing in Edgbaston 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 date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new 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 in 2037 is to be extinguished.
My wife and I have recently appointed a conveyancing solicitor in Edgbaston. I I would like to check whether they are accepted on the Santander approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should call your solicitor and enquire if they are on the lender panel. Alternatively please get in touch with Santander who may be able to assist.
is it true that all Edgbaston solicitor practices on the Coventry BS conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I am currently in the process of buying my council flat in Edgbaston. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
About to purchase house in Edgbaston. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Edgbaston lawyer is on the Co-operative conveyancing panel.
I have been told that property searches are a common cause of stalling in Edgbaston conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Edgbaston.