Am I correct in assuming that the fact that my conveyancer in Ashford Kent is not on my mortgage company's solicitor panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor 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 Ashford Kent conveyancing practice and ask them why they are no longer on the approved list for your bank.
My solicitor has uncovered a a problem with the lease for the property we are purchasing in Ashford Kent. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications 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 mortgage company are the client. The appropriate lender conditions must be adhered to.
When it comes to lenders such as HSBC, do Ashford Kent conveyancers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I had a mortgage agreed in principle with Nationwide. Ashford Kent conveyancing lawyers were selected. What is the average time that one could expect to receive a mortgage offer from Nationwide?
There is no definitive answer here. Have Nationwide completed the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am due to exchange contracts on my house. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Virgin Money are being a right pain. The Ashford Kent solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
What can a local search tell me about the house I am buying in Ashford Kent?
Ashford Kent conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Searchflow The local search plays an important role in many a Ashford Kent conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Ashford Kent I like with amenity areas and transport links nearby, however it's only got 61 years on the lease. I can't really find anything else in Ashford Kent for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
My wife and I have an offer in principle from Leeds Building Society who indicated that they will lend up to £300k. At what point do I need to appoint a solicitor for conveyancing? Ashford Kent is where we plan to move to.
It would be wise to appoint a property lawyer now and ask them to open a file on your behalf. This will enable: 1) the selling agent to issue a Sales Memorandum to the relevant parties 2) the seller’s lawyer to submit the draft agreement. That being said, do not instruct your lawyer to order searches until you receive your valuation report via Leeds Building Society and you are happy to proceed.