Is the fact that my solicitor in Walworth is not on my lender's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That is more than likely an incorrect assumption to make. There are plenty of reasonable 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) 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 contact the Walworth conveyancing firm and ask them why they are no longer on the approved list for your lender.
I am hoping to complete my purchase in Walworth next Thursday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not unique to conveyancing in Walworth.
Can your site be used to find a Conveyancing solicitor in Walworth even if I’m not purchasing or disposing of a house, for example if I wish to acquire an office in Walworth with a mortgage from Nottingham Building Society?
Our comparison service is primarily used to get a quote from residential conveyancing solicitors in Walworth but we have set out towards the bottom of this page some Walworth commercial conveyancing firms. You will need to enquire with the firm directly to see if they can also act for Nottingham Building Society
How does conveyancing in Walworth differ for new build properties?
Most buyers of new build residence in Walworth approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Walworth typically 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 property lawyers 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 Walworth or who has acted in the same development.
I am looking for a ground for flat up to £195,000 and identified one round the corner in Walworth I like with a park and station in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Walworth for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the shortness of the lease may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Is it best to choose a Walworth conveyancing practitioner in close proximity to the house I am purchasing? I have an old university friend who can perform the legal work however they are based a couple of hundredmiles away.
The primary upside of using a high street Walworth conveyancing firm is that you can drop in to execute documents, deliver your ID and apply pressure on them where appropriate. Having local Walworth know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that must outweigh using an unknown Walworth conveyancing lawyer just because they are based in the area.