Am I correct in assuming that the fact that my solicitor in Niton is not listed on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That is more than likely a wrong assumption to make. There are plenty of plausible 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) low volume 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 Niton conveyancing firm and ask them why they are no longer on the approved list for your bank.
Our son-in-law is about to exchange on a house that has just been built in Niton with a mortgage from RBS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As I am unsure how the conveyancing process works what is the most important piece of guidance you can impart concerning purchase conveyancing in Niton?
Not many law firms shout this from the rooftops but conveyancing in Niton and elsewhere in Isle Of Wight is often a confrontational experience. Put another way, when it comes to conveyancing there exists lots of opportunity for conflict between you and others involved in the ownership transfer. For instance, the vendor, property agent and sometimes the lender. Choosing a law firm for your conveyancing in Niton should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the transaction whose responsibility is to protect your best interests and to keep you safe.
We are witnessing a worrying creep in the "blame" culture- someone must be at fault for the process being so protracted. You must always trust your lawyer ahead of the other players when it comes to the legal assignment of property.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Niton. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/1/2021, the requirements read as follows :
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a simple, no chain conveyancing. Niton is where the house is located. What do you suggest?
Flying freeholds in Niton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Niton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Niton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have been sourcing a conveyancing practitioner in Niton for my home move. Is it possible to review a firm’s complaints history with the profession’s regulator?
One can read documented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator could recorded call for training requirements.