Is the fact that my conveyancer in Downe is not on my lender's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent 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 simply call the Downe conveyancing firm and enquire why they are no longer on the approved list for your bank.
Various online forums that I have frequented warn that are a common cause of delay in Downe conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Downe.
It has been three months following my purchase conveyancing in Downe concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Downe with the aid of help to buy. The builders would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this extras as it will put at risk my mortgage with Aldermore. Should I keep quiet?.
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.
I opted to have a survey done on a house in Downe prior to appointing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies will not grant a loan on this type of property.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Downe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Downe to see if the conveyancing will be more expensive.
I need to instruct a conveyancing practitioner in Downe for my home move. Can I check a firm’s complaints history with the profession’s regulator?
One may read published Solicitor Regulator Association (SRA) determinations stemming from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.