Am I correct in assuming that the fact that my conveyancer in Plumstead is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a 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 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 Plumstead conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
My partner and I are acquiring a brand new flat in Plumstead and my lawyer is telling me that she has to the bank to disclose incentives from the builder. I am on a tight deadline to exchange contracts and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My bid for a property was accepted at auction in Plumstead. Conveyancing is required. What happens now?
Now that you are to all intents and purposes signed on the dotted line you must retain a conveyancing practitioner as a matter of urgency as you now have a fast approaching a fixed date to complete the purchase. Every auction property will have an associated auction set of papers. This should include most,if not all of the paperwork that your conveyancer requires. If you have purchased leasehold premises the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You must pass this on to the lawyer instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in place to complete on the on the contractual date .
This question may be naive but I am unexperienced as FTB of a garden flat in Plumstead. Do I collect the keys to the property on the completion date from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Plumstead?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be called to pick up the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
We had chosen conveyancers based in Plumstead on the Virgin Money solicitor panel. They are now charging me an additional fee for dealing with the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer may levy a fee for this. This charge is not set by Virgin Money but by your Plumstead property lawyer. Some firms on the Virgin Money panel will levy an ‘acting for lender’ fee and others do not.
Despite weeks of looking the Title Certificate and documents to my house are lost. The conveyancers who conducted the conveyancing in Plumstead 5 years ago have long since closed. Will I be able to sell the house?
Nowadays there are duplicates made of almost everything, and your conveyancer should be aware exactly where to find all the appropriate documentation so you can purchase or dispose of your house without any difficulty. Where duplicates are not available, your lawyer can arrange cover in the form of insurance or indemnities protecting you against future claims on your premises.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Plumstead I like with open areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Plumstead suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage that many years will be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I have been recommended by numerous selling agents in Plumstead to find a conveyancer using your seach tool. What’s the financial upside for Estate Agents to offer your site ahead of another?
We don’t give any commission for sending work our way. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.