Am I correct in assuming that the fact that my conveyancer in St Margarets is not listed on my lender'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 revealed 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 solicitor 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 St Margarets conveyancing firm and ask them why they are no longer on the approved list for your bank.
Our lawyer has uncovered a a problem with the lease for the flat we are buying in St Margarets. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must ensure that the mortgage company is happy with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. The appropriate lender conditions have to be complied with.
Various internet forums that I have visited warn that are the number one cause of stalling in St Margarets conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in St Margarets.
Are there restrictive covenants that are commonly identified during conveyancing in St Margarets?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in St Margarets. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey carried out on a house in St Margarets in advance of instructing solicitors. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies may not grant a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you contact us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St Margarets. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Margarets to see if the conveyancing costs will increase in light of this.
I need to instruct a conveyancing lawyer in St Margarets for my house move. Can I see a firm’s record with the legal regulator?
One may see published Solicitor Regulator Association (SRA) decisions arising from investigations started on or after 1 January 2008. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA may recorded call for training requirements.