Is the fact that my conveyancer in Stansted is not identified on my lender's solicitor panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed 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) 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. Should you be concerned you should contact the Stansted conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My partner and I are buying a brand new apartment in Stansted and my conveyancer is advising me that she is duty bound to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to exchange and I don't want to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can you clarify what the consequences are if my solicitor is expelled from the Nationwide Solicitor panel ahead of completing my conveyancing in Stansted?
The first thing to point out is that, 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 at a cost.
I have been told that property searches are the number one reason for hinderance in Stansted house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Stansted.
I was recommended by a number of selling agents in Stansted to find a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to recommend your site ahead of alternative conveyancing organisations?
We refuse to make any financial incentive for sending work to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
The conveyancers carrying out our conveyancing in Stansted has sent papers to review that show the property is unregistered with epitome documents. How can it be that the property not yet recorded at HM Land Regsitry?
It is a rare occurrence indeed to find premises in Stansted not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Stansted conveyancing practitioners will be able to handle this type of conveyancing but where uncertainty exists the prevailing guidance nowadays seems to be for the current owners to deal with the registration formalities first and thereafter deal with the sale conveyance - this will have a knock on effect to result in a protracted conveyancing.