Is the fact that my solicitor in Ventnor is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
That is most likely a wrong assumption to make. There are all sorts of perfectly reasonable 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 most common reasons for removal are: (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. Where you are concerned you should simply call the Ventnor conveyancing practice and enquire why they are no longer on the approved list for your lender.
I have been told that property searches are the primary reason for obstruction in Ventnor house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Ventnor.
I have todaydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Ventnor for a purchase of a leasehold flat 18 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The easiest way to see if the premises is registered to you, you can make 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 Ventnor conveyancing specialists.
How does conveyancing in Ventnor differ for new build properties?
Most buyers of new build residence in Ventnor approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Ventnor tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ventnor or who has acted in the same development.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Ventnor. I've discover a site which seems to have the ideal solution If it is possible to get all formalities completed via phone that would be preferable. Should I be wary? What are the potential pitfalls?
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?
Why do I have to provide my solicitor with a list of items of ID ahead of starting my conveyancing in Ventnor?
Ventnor property lawyers are duty bound by the Law Society, Solicitors Regulation Authority, HMLR and current AML Regulations to certify that the have checked the identity of their clients. It will also be a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, national insurance number and DOB.