Am I correct in assuming that the fact that my conveyancer in Downham is not listed on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters 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 simply call the Downham conveyancing practice and ask them why they are no longer on the approved list for your bank.
We wanted to use a conveyancing solicitor in Downham for our house purchase. Our broker informed us that our mortgage lenders Santander won't deal with them. Why is this not regarded as unduly restrictive?
Mortgage Companies normally imposes restrictions either the category or the volume of conveyancing solicitors on their panel. 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 limited the number of firms they use to act for them. Be aware that Santander have no responsibility for the quality of advice provided by any member of Santander Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels since 2008 even though there are differing opinions about the level of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that thousands of law firms, including some in or near Downham only carry out one or two conveyances a year.
Should my lawyer be raising questions about flooding as part of the conveyancing in Downham.
The risk of flooding is if increasing concern for solicitors dealing with homes in Downham. Plenty of people will purchase a house in Downham, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of checks that may be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Downham. The standard property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to determine if the premises has suffered from flooding. In the event that flooding has previously occurred which is not notified by the vendor, then a buyer may bring a legal claim for losses stemming from an inaccurate answer. A purchaser’s conveyancers will also carry out an enviro report. This will reveal whether there is a recorded flood risk. If so, additional inquiries should be made.
three months have elapsed following my purchase conveyancing in Downham completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 have been on the look out for a ground for flat up to £195,000 and found one near me in Downham I like with a park and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Downham suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
In my capacity as executor for the will of my grandmother I am selling a property in Cardiff but live in Downham. My conveyancer (who is 235 kilometers awayrequires that I execute a statutory declaration before completion. Can you recommend a conveyancing practitioner in Downham who can witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are located in Downham