Am I correct in assuming that the fact that my solicitor in Sheen Park is not listed on my bank's solicitor panel that there is a problem with the quality of his conveyancing?
That is most likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% 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 Sheen Park conveyancing firm and enquire why they are no longer on the approved list for your lender.
My solicitor has identified a a problem with the lease for the property we are purchasing in Sheen Park. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must check that the lender is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
I need some expedited conveyancing in Sheen Park as I am faced with pressure to exchange contracts within 4 weeks. Luckily I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not obtaining a home loan you are at liberty not to do searches although no law firm would advise that you don't. With plenty of history conveyancing in Sheen Park the following are instances of what can crop up and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...
I have recentlybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Sheen Park for a purchase of a leasehold apartment 9 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Sheen Park conveyancing specialists.
What advice can you give us when it comes to choosing a Sheen Park conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Sheen Park conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Sheen Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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What are the costs for lease extension conveyancing?
Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in Sheen Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Sheen Park conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Sheen Park residence is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case related to 3 flats. The remaining number of years on the lease was 66.25 years.
I have read on various online forums that before choosing a conveyancing solicitors they need approved by your mortgage company. I am new to the process but I have an offer in principle from Virgin Money and I already have a high street conveyancing solicitor in Sheen Park lined up. Does Santander require an approved conveyancer to be used? If so, where can I find that list for my conveyancing in Sheen Park?
You should choose a solicitor that is on the Santander panel. Just call your chosen Sheen Park conveyancing lawyer to check if they are on the Santander panel. If they are not on the panel you have a couple of choices open to you here:
- Carry on with your preferred Sheen Park conveyancing practitioner but Santander will no doubt use a solicitor from their approved panel. The net result is additional charges together with likely delay.
- Get a fresh conveyancing practitioner to conduct the conveyancing, ensuring that they are on the Santander conveyancing panel.
- Appeal to your property lawyer to attempt to join the lender panel.