Unfortunately I am unable to travel far from Plymstock. What is the rationale as to why all Plymstock property lawyers aren't included on all bank panels?
A decade ago most lenders exhibited an attitude to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into property fraud which concluded: know the solicitors on your panel. As a result, mortgage companies have subsequently looked to extract more information from law firms regarding their processes and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum volume of transactions the lenders insisted on.
My wife and I are due to exchange buying a house in Plymstock but as a consequence of wreckage from some water damage at the property I have managed to agree recompense from the seller of £3k by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process yet Principality will not permit this. Why were they informed?
The lawyer that is on the Principality conveyancing panel is duty bound to inform Principality of any amendments to the purchase price. If you prohibit your solicitor to report the price change to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new lawyer for your conveyancing in Plymstock.
It is is a decade since I purchased my property in Plymstock. Conveyancing solicitors have recently been instructed on the sale but I can't locate my title deeds. Is this a problem?
You need not be too concerned. First there is a chance that the deeds will be kept by your mortgage company or they could be in the possession of the lawyers who oversaw your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Plymstock relates to registered property but in the rare situation where your property is not registered it is more tricky but is not insurmountable.
I opted to have a survey carried out on a house in Plymstock in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies will refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Plymstock. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I am about to part with £400,000 on a house in Plymstock I would like to have a conversation with the lawyer regarding theconveyancing prior to appointing the firm. Can this be arranged?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your conveyancing in Plymstock.There is no ‘factory style conveyancing’ - each client is an important person, not a case reference. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Plymstock should be the figure that you are charged.
I am using a search engine for the phrase on line conveyancing in Plymstock it reveals many property lawyersin the vicinity. How do I determine which is the suitable conveyancing solicitor for purchase transaction?
The preferential way of choosing the right conveyancer is via trusted referral, so ask colleagues and those you trust who have bought a property in Plymstock or the local estate agent or financial adviser. Charges for conveyancing in Plymstock differ, so it's a good idea to obtain a minimum of three fee estimates from different property lawyers. Be sure to obtain confirmation that the fees are fixed.