I can't travel far from Patcham. Can you please clarify why all Patcham solicitors are not on all lender panels?
Mortgage Companies ordinarily impose restrictions on either the nature or the number of conveyancing practices on their panel. A common example of such criteria being that a practice needs to have two or more partners. As well as restricting the nature of firm, some building societies decided to limit the size of their panel they permit to act for them. It is worth noting that lenders have no responsibility for the quality of service supplied by any Patcham solicitor on their approved list. Increases in mortgage fraud was the main trigger for the reduction of solicitor panels in the last decade even though there are conflicting opinions about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out less than three conveyances annually. Those supporting conveyancing panel consolidation question why law firms deserve the right to be listed on a bank panel when clearly conveyancing is not their primary expertise?
Our Patcham solicitor has discovered a discrepancy between the information in the home valuation report and what is revealed within the legal papers for the property. My lawyer informs me that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s approach right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am considering mortgaging my house in Patcham, does my lawyer have to be on the HSBC Conveyancing panel?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We are selling our home in Patcham and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Patcham lawyer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing outfit rather than a conveyancing solicitor in Patcham. We have lived in Patcham for three years we know of no issue. Is it a good idea to get in touch with our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I own a semi-detached Edwardian property in Patcham. Conveyancing practitioner acted for me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. Is it worth asking Nottingham Building Society to clarify?
You need to assess 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 Patcham 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 buyers. You can also check the situation with your conveyancing solicitor who conducted the work.
Due to the guidance of my in-laws I had a survey completed on a house in Patcham prior to appointing solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some lenders may not issue a mortgage on this type of premises.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Patcham. Conveyancing will be smoother if you use a solicitor in Patcham especially if they are acquainted with such properties in Patcham.