Am I correct in assuming that the fact that my solicitor in Victoria is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?
That is more than likely an incorrect assumption to make. There are plenty of reasonable explanations. A recent 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) 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. If you are concerned you should simply call the Victoria conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Are all Victoria Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
A selection of lenders now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
is it true that all Victoria solicitor practices on the Aldermore conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Aldermore approved list of solicitors they would need to be governed by the SRA. Some lenders do permit licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
I am purchasing a property in Victoria. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Co-operative be concerned?
Given that you are obtaining a mortgage with Co-operative your lawyer must check the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Co-operative where a lease does not comply with these specifications. The specifications relate to the installation of panels on properties countrywide and is not restricted to Victoria.
I have todayfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Victoria for a purchase of a freehold house 18 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest way to see if the premises is in your name, 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 Victoria conveyancing specialists.
How does conveyancing in Victoria differ for new build properties?
Most buyers of new build premises in Victoria contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Victoria typically buy 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 conveyancing solicitors 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 Victoria or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Victoria is where the house is located. Can you offer any opinion?
Flying freeholds in Victoria are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Victoria you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Victoria may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What type of property do your Victoria conveyancing estimates apply to?
The quotes provided are only relevant to standard residential property in England & Wales. If you have any different needs for instance industrial or agricultural land or commercial conveyancing in Victoria please telephone us to discuss your requirements .