Am I correct in assuming that the fact that my solicitor in Heysham is not identified on my bank's conveyancing panel that there is a problem with the standard of her conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly 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 top 5 reasons are as follows: (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 contact the Heysham conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
We are approaching an exchange on a house in Heysham and my parents have transferred the 10% deposit to my conveyancer. I am now informed that as the deposit has not come from me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The solicitor is obliged to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We are selling our house in Heysham. Does the conveyancing practitioner have to be on the Bank of Ireland conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
Me and my brother own a 4 bedroom Victorian house in Heysham. Conveyancing practitioner represented me and Lloyds TSB Bank. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching address. Is it worth asking Lloyds TSB Bank to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Heysham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing practitioner who carried out the work.
I have been on the look out for a flat up to £235,500 and found one round the corner in Heysham I like with a park and railway links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Heysham in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I'm buying a property in Heysham. I can find my conveyancer's company on the Law Society's list, but I can't locate my lawyer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the company must be listed by the regulator. Provided there is someone qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unqualified staff.