Is the fact that my conveyancer in Pershore is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible 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 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. Should you be concerned you should simply call the Pershore conveyancing firm and ask them why they are no longer on the approved list for your lender.
Are the Pershore conveyancing solicitors identified as being on the Bank of Ireland conveyancing panel, together with their details provided by Bank of Ireland?
Pershore conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
Should my solicitor be asking questions about flooding as part of the conveyancing in Pershore.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Pershore. Some people will acquire a house in Pershore, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a numerous checks that may be undertaken by the purchaser or by their solicitors which should figure out the risks in Pershore. The standard property information forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to determine if the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the owner, then a purchaser may bring a compensation claim as a result of such an incorrect reply. The purchaser’s conveyancers will also conduct an environmental report. This will indicate whether there is a recorded flood risk. If so, additional investigations will need to be initiated.
three months have elapsed following my purchase conveyancing in Pershore completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Pershore differ for new build properties?
Most buyers of new build residence in Pershore approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Pershore typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pershore or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Pershore is the location of the property. Can you shed any light on this issue?
Flying freeholds in Pershore are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pershore you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pershore 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.