Am I correct in assuming that the fact that my conveyancer in Wisbech is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible 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 Wisbech conveyancing practice and ask them why they are no longer on the approved list for your lender.
When can the exchange of contracts happen for residential conveyancing in Wisbech and do I need to be at the conveyancers office?
Where you are in close proximity to our conveyancing solicitors in Wisbech you are welcome to come in to sign contracts. That being said, the firms we work with provide a countrywide conveyancing service and provide as equally detailed and professional a job for you when dealing with you electronically. The executing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Wisbech)to be in the office at the appropriate time.
What is your number one tip for choosing a conveyancing solicitor in Wisbech
Do not opt for the cheapest Wisbech conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
When it comes to lenders such as TSB, do Wisbech conveyancing practitioners face a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Is it the case that all Wisbech solicitor firms on the Santander conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Santander conveyancing panel they would need to be overseen by the SRA. The majority of banks do list licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
How does conveyancing in Wisbech differ for newly converted properties?
Most buyers of new build or newly converted property in Wisbech approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Wisbech 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 accustomed to new build conveyancing in Wisbech or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Wisbech I like with amenity areas and transport links in the vicinity, however it only has 51 years on the lease. There is not much else in Wisbech in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Reduce 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 at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Me and my husband have agreed a price on a Wisbech ground floor flat left to us some years ago in 2009. I have over 12 years conveyancing experience and, now retired, intend to do the conveyancing. The purchaser's conveyancer has informed me that their mortgage company will not allow you to do your own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Mortgage instructions to conveyancers from all mainstream lenders state that If the vendor is not legally represented the purchaser’s lawyers should check whether the lender needs to be informed so that a decision can be reached as to whether or not they are willing to progress.