We note that you have a search directory identifying law firms on the Co-operative conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Shanklin?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Shanklin.
Can you clarify what the consequences are if my solicitor is removed from the Virgin Money Solicitor panel ahead of completing my conveyancing in Shanklin?
First, this is a very rare occurrence. 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 at a cost.
Should my solicitor be raising questions regarding flooding during the conveyancing in Shanklin.
The risk of flooding is if increasing concern for lawyers dealing with homes in Shanklin. There are those who acquire a property in Shanklin, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, but there are a various searches that can be carried out by the purchaser or by their lawyers which will give them a better appreciation of the risks in Shanklin. The standard property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to discover if the property has historically flooded. If the property has been flooded in past which is not revealed by the vendor, then a purchaser could bring a claim for damages as a result of such an incorrect reply. The purchaser’s conveyancers should also commission an environmental search. This should reveal if there is any known flood risk. If so, more detailed investigations will need to be carried out.
I have been on the look out for a flat up to £305k and found one close by in Shanklin I like with open areas and railway links nearby, however it only has 49 years unexpired on the lease. There is not much else in Shanklin suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease may be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Is it simple use your search tool to locate a conveyancing solicitor in Shanklin on the authorised to act for my bank?
First select a lender such as Lloyds TSB Bank, Chelsea Building Society or Aldermore then type in your location such as Shanklin. Conveyancing practices in Shanklin and further afield should be identified.
I need to retain a conveyancing solicitor for sale conveyancing in Shanklin. I happened to stumble across a web site which seems to have the perfect answer If it is possible to get all formalities completed via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?