Am I correct in assuming that the fact that my solicitor in Walworth is not listed on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of 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) lack 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 contact the Walworth conveyancing practice and enquire why they are no longer on the approved list for your bank.
We have rather assertive sellers who has insisted on a lock out contract with a down payment 6,000. Are such arrangements recommended for Walworth conveyancing transactions?
Lock out contracts are agreements binding a home seller and prospective buyer granting the buyer a ‘clear field’ to the sale of the property within an agreed time frame. Essentially, a lock out is a document stating that you will have a contract at a later time which is the main conveyancing contract. It tends to be used for buyer confidence though in some cases, the proprietor may enjoy an upside from such agreements as well. There are numerous positives and negatives to using them but you should to check with your lawyer but note that it may end up costing you extra in conveyancing fees. In light of these reasons these contracts are unusual when it comes to conveyancing in Walworth.
What does my ID and proof of funds have anything to do with my conveyancing in Walworth? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you are required to sign will no doubt reaffirm this. Your lender will also require certain documents to be checked. If you refuse to provide ID verification documents, your solicitor would not be able to act for you.
My bid for a property was accepted at auction in Walworth. Conveyancing is required. What is next?
Now that you have legally bound yourself to purchase you should instruct a conveyancing solicitor as a matter of urgency as you will have a pending a fixed date to complete the transaction. An auction property will ordinarily have a corresponding auction pack. This will likely include evidence of title and search results. If you have purchased leasehold property the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You need to pass this on to the solicitor instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
I am purchasing a property in Walworth. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
As you are obtaining a mortgage with Bank of Ireland your lawyer must check the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to Bank of Ireland where a lease fails to satisfy these conditions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Walworth.
After shopping around on the internet I have found a Walworth solicitor having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Walworth postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Walworth.
Should commercial conveyancing searches disclose planned roadworks that could impact a commercial site in Walworth?
Many commercial conveyancing solicitors in Walworth will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Walworth. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Walworth.
For every commercial conveyancing transaction in Walworth it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Walworth commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Walworth.
Due to the encouragement of my in-laws I had a survey completed on a house in Walworth in advance of retaining lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will refuse to give a loan on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Halifax. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Walworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Walworth to see if the conveyancing will be more expensive.