Is the fact that my solicitor in Clayhall is not listed on my bank's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That would most likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 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 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 Clayhall conveyancing practice and enquire why they are no longer on the approved list for your lender.
We are a couple about to exchange contracts for a leasehold flat in Clayhall. We have hit a snag. The loan offer with Leeds Building Society runs out on 19/3/2021 but the owners are suggesting a completion date of 23/3/2021. Can one prolong the loan offer?
The best person to deal with your concern is your conveyancer who will assess whether he or she is corresponding with the mortgage company, seller’s lawyers, estate agents or conceivably all three taking into account what has gone on in your transaction as of today.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Nationwide Conveyancing panel ahead of completing my conveyancing in Clayhall?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
How does conveyancing in Clayhall differ for new build properties?
Most buyers of new build property in Clayhall come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because developers in Clayhall usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Clayhall or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Clayhall is the location of the property. Can you offer any opinion?
Flying freeholds in Clayhall are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Clayhall you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Clayhall may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking into buying my first house which is in Clayhall and I am already nervous. I couldn't find anything specific about Clayhall. Conveyancing will be needed in due course but do you know about the Clayhall area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Clayhall. In the meantime here are some basic statistics that we found