Am I correct in assuming that the fact that my solicitor in Hayling Island is not listed on my bank's solicitor panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. 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. Where you are concerned you should contact the Hayling Island conveyancing firm and enquire why they are no longer on the approved list for your lender.
We are buying our first house. The solicitor has e-mailedto check if we would like to take out supplemental conveyancing searches. Unfortunately we have no idea as to what's recommended for conveyancing in Hayling Island
The extent of Hayling Island conveyancing searches should be triggered based primarily on the property, the location, the probability of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What is important is that you adequately appreciate what information the searches could provide. Then you can make a decision if you personally think you need that search. If in doubt, ask the property lawyer to offer guidance.
I completed on my apartment on 16 May and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Hayling Island said it should be registered in a couple of weeks. Are titles in Hayling Island particularly slow to register?
As far as conveyancing in Hayling Island is concerned, registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry need to notify any 3rd persons or bodies. As of today roughly 80% of submission are fully addressed in less than three weeks but some can be subject to longer hold-ups. Historically registration occurs after the new owner has moved in to the property so registration formalities is not typically primary concern but if there is a degree of urgency associated with the registration then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in Hayling Island I like with a park and railway links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Hayling Island for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Is it best to use a Hayling Island conveyancing practitioner based in the location that I am hoping to buy? An old friend can carry out the legal work but his firm is located 300miles away.
The benefit of a high street Hayling Island conveyancing firm is that you can visit the firm to sign paperwork, present your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and in the main were impressed that should trump using an unfamiliar Hayling Island conveyancing lawyer solely due to them being local.
My partner and I have an offer in principle from Coventry Building Society who suggested that they will lend up to £400k. At what point do I need to instruct a lawyer for conveyancing? Hayling Island is where we plan to move to.
You can instruct a conveyancer now so that the property lawyer can open the file so they can do their AML checks etc. Once you wish them to commence work you will be asked for a payment on account normally approximately £200. That should normally be after you have the mortgage offer and valuation report, but should you want to speed matters you can start quicker albeit risking some money.