Am I correct in assuming that the fact that my conveyancer in Rochester is not identified on my bank's conveyancing panel that there is a problem with the quality of the firm’s work?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 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) 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 Rochester conveyancing firm and enquire why they are no longer on the approved list for your lender.
Our lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Rochester. The other side have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must check that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
There are numerous conveyancing solicitors in Rochester but how do I know who I should use?
We would encourage you not to base your choice on the lowest Rochester conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Have just purchased a repossessed house at auction in Rochester. Conveyancing is needed. What are my next steps?
Given that you are now legally committed yourself to purchase you will need to choose a conveyancing lawyer soon as you now have a fast approaching a fixed date to complete the deal. All auction property should have an associated legal set of papers. This should include most,if not all of the documents that your solicitor requires. In the case of leasehold property the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You need to pass this on to the lawyer instructed by you ASAP. Do make sure that your finances are in place to complete on the date specified in the contract.
Forgive me if this question is silly but I am new to the process as FTB of a garden flat in Rochester. Do I collect the keys to the property on completion from my lawyer? If so, I will find a High Street conveyancing solicitor in Rochester?
On the day of completion you do not need to go to the conveyancers office in Rochester. Conveyancing lawyers for you will transfer the completion advance to the vendor’s lawyers, and once they have received this, you will be able to collect the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Rochester I like with amenity areas and station in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Rochester for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
Should I be suspicious that estate agents that I am dealing with are suggesting an internet conveyancing firm rather than a local Rochester conveyancing firm?
As is the case with lots of professional services, often input from family and friends can be extremely useful or valuable. But there are numerous players in a conveyancing deal; estate agents, financial adviser and mortgage companies might all recommend lawyers to instruct. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the recommendation. You are free to choose your preferred conveyancer. Don't forget that many banks specify a panel list of lawyers you are obliged to use for the mortgage aspect of your house move.
Do I need to visit the offices of the mortgage company conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Rochester as it will be easier to pop in to their offices if required.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Rochester.