Is the fact that my solicitor in Rednal is not on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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. If you are concerned you should simply call the Rednal conveyancing firm and ask them why they are no longer on the approved list for your bank.
Can you clarify what the consequences are if my solicitor is removed from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Rednal?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Rednal is where the house is located. What do you suggest?
Flying freeholds in Rednal are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rednal you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rednal may decide 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 residence.
I'm remortgaging my primary house to a BTL loan with Virgin Money and intend to use the remaining equity as a down payment on further house. The area we are looking at is Rednal. Will your solicitors be able to act for the two mortgage companies and link together the transactions?
Do use our comparison tool on this page to be sure that the conveyancers are on the relevant lender panels. On the basis that they are your conveyancer should be able to simultaneously deal with the two transactions but you should talk with you solicitor and specify your expectations and needs.
In searching the internet for the words cheap conveyancing in Rednal it brings up many solicitorslocally. How do I determine which is the right solicitor for my move?
The preferential method of finding the right conveyancer is via personal testimonial, so ask friends and those you trust who have purchased a property in Rednal or a respected estate agent or financial adviser. Costs for conveyancing in Rednal differ, so it's sensible to secure at least four costs illustrations from varying types of companies. Dont forget to clarify what costs in the quote includes.
Our lenders have just issued us with a mortgage offer. We have retained a reputable conveyancer in Rednal yesterday. Today, our broker phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the bank had a say Is this usual?
You can actually choose any lawyer you prefer to instruct including the said conveyancer in Rednal however if your bank aren't happy with them you will have to pay additional cost so the mortgage company can appoint their own conveyancer too. It may be possible your solicitor may apply to get included on to the bank list of approved firms. You can use web-based tools including lenderpanel.com to find a conveyancing solcitor in Rednal on the bank panel. You can go into your local bank branch in Rednal. They will know some good conveyancing solicitors in Rednal on the approved list.