Am I correct in assuming that the fact that my solicitor in Madeley is not identified on my lender's solicitor panel that there is a problem with the standard of her conveyancing?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 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 lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Madeley conveyancing practice and enquire why they are no longer on the approved list for your lender.
We were just about to exchange contracts for a garden flat in Madeley. We encountered a stumbling block. The loan offer with Bank of Scotland expires on 14/4/2026 but the sellers are insisting on a completion date of 16/4/2026. Is it possible to extend the mortgage offer?
The best person to address this concern is your lawyer who will calculate if they should be discussing with the bank, vendor’s solicitors, estate agents or possibly all three given what has happend in your conveyancing as of today.
Should lawyers request an advanced payment when it comes to conveyancing in Madeley?
Where you are retaining lawyers for conveyancing in Madeley your lawyer will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the sale price then this should be required immediately prior to exchange of contracts. Any further balance that is needed should be sent to your lawyer a few days ahead of the day of completion.
We are purchasing a house in Madeley. It might be a silly question but how we can trust a conveyancer? On completion day we have to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
This question may be naive but I am unseasoned as a 1st time purchaser of a garden flat in Madeley. Do I receive the keys to the house on completion from my conveyancer? If so, I will appoint a local conveyancing solicitor in Madeley?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s solicitors, and once they have received this, you should be called to collect the keys from the property Agents and move into your new home. Usually this happens early afternoon.
My solicitor has informed me that flying freehold insurance is necessary on my purchase. What is the level of cover for Madeley conveyancing?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and Barnsley Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
My partner has recommend that I appoint his conveyancing solicitors in Madeley. Should I find my own solicitor?
Much as we are happy to recommend a Madeley conveyancing lawyer the ideal way to find a conveyancing practitioner is to seek guidance from friends or family who have actually used the solicitor that you are considering.
Why can't I complete our conveyancing in Madeley on a bank holiday?
Because on completion the sale price needs to pass between the banks of the purchaser and seller's conveyancing practitioner and currently this can only take place on a business day. So you can't complete on a saturday or sunday either.