Is the fact that my solicitor in Addlestone is not listed on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a 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. Should you be concerned you should contact the Addlestone conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
Can you help - my lawyer advises that lack of right of way insurance is necessary on my purchase. What is the level of cover for Addlestone conveyancing?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Santander and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such policies.
I have paid off my mortgage with HSBC. I assume I don't need a Addlestone solicitor on the HSBC panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I was told three weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Addlestone is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
A colleague recommended that if I am purchasing in Addlestone I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Addlestone conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Addlestone around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Addlestone.
I am buying my first flat in Addlestone with a loan from Alliance & Leicester . The builders refused to budge the amount so I negotiated £7000 of extras instead. The sale representative told me not to tell my solicitor about the extras as it would adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What tools are available to search for a Addlestone law firm on the Norwich and Peterborough Building Society conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the solicitor.
You can use the search on this page. Please select a mortgage company and your location and you will see a number of Addlestone conveyancing lawyers located nearest you. We have detailed some Addlestone conveyancing firms at the bottom of this page and you can contact them to check whether they are on the Norwich and Peterborough Building Society panel
Two months into a sale of a flat in Addlestone. Conveyancing is fine but we have been asked to pay a fortune by the landlord. So far we have paid £225 for a leasehold management information and then another £118 for responses to queries raised by the buyers property lawyer.
Your conveyancing practitioner will not have any sway over the extent of the bill for this information but the typical costs for the information for Addlestone leasehold property is £395. When it comes to Addlestone conveyancing sales it is standard for the vendor to cover the costs. The landlord or their agents are not duty bound to address such questions most will be content to do so - albeit often at high prices out of proportion to the work involved. Unfortunately there is no statute that mandates fixed fees for administrative tasks. Nor is there any prescriptive time limit by which they are obliged to supply answers.