Am I correct in assuming that the fact that my conveyancer in Bucknall is not identified on my bank's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated 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. Where you are concerned you should contact the Bucknall conveyancing firm and ask them why they are no longer on the approved list for your bank.
My wife and I have lately bought a house in Bucknall. We have since encountered a number of issues with the house which we believe were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that should have been ordered as part of conveyancing in Bucknall?
The question is not clear as to the nature of the problems and if they are relate to conveyancing in Bucknall. Conveyancing searches and due diligence initiated during the buying process are supposed to help avoid problems. As part of the legal transfer of property, a property owner completes a document known as a SPIF. If the information provided is misleading, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Bucknall.
We wanted to use a conveyancing solicitor in Bucknall for our home move. Our financial adviser informed us that our bank Virgin Money won't deal with them. Why is this not regarded as unfair competition?
Lenders tend to imposes restrictions either the type or the amount of conveyancing practices on their approved list of lawyers. A common example of such criteria being that a firm must have two or more partners. In addition to restricting the profile of firm, some have decided to limit the amount of solicitor practices they allow to represent them. You should note that Virgin Money have no responsibility for the quality of advice provided by any member of Virgin Money Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there are mixed opinions regarding the level of solicitor involvement in some of that fraud. Figures from the Land Registry indicate that thousands of law firms, including some in or near Bucknall only conduct a couple conveyances per annum.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who did the conveyancing in Bucknall 10 years ago no longer exist. Will I be able to sell the house?
You no longer need to hold title official documentation to prove you own the land or property, given that the Land Registry have everything they need in a digital format.
I'm purchasing a new build house in Bucknall benefiting from help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my solicitor about the deal as it would put at risk my mortgage with Platform Home Loans Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
My partner and I have recently had an offer agreed on a apartment and had an appointment on Wednesday with Leeds Building Society for the mortgage. They have informed me that when it comes to appointing a property lawyer that unless they are on their approved panel of solicitors then we will incur an additional charge of £200. This is because they will then have to instruct a property lawyer to act on their behalf in addition to the one we appoint on our behalf and we will be on the hook for their fees. I have requested Leeds Building Society to supply me with a list so I can obtain quotes only from their approved conveyancers but was told that I need to check with each individual conveyancer to see if they are on the panel. What would be the best way of going about this?
You can enquire of Leeds Building Society what their criteria for joining their panel is for a conveyancer.Then ask the lawyer of your choice whether they meet the criteria and have they acted on mortgages for Leeds Building Society previously. Where the answer to those is yes, then just clarify this with Leeds Building Society. Alternatively please make use of our search facility and we should be able to locate a conveyancer in Bucknall on the approved list for Leeds Building Society.