Is the fact that my conveyancer in Arundel is not identified on my bank's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% 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 lawyer 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 Arundel conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
At what point does exchange of contracts occur in residential conveyancing in Arundel and am I required to be at the lawyers office?
Where you are round the corner to one of the conveyancing solicitors in Arundel you are welcome to come in to sign the paperwork. That being said, the lender approved solicitors we recommend offer countrywide coverage for conveyancing and give as equally detailed and professional a job for you when communicating with you digitally. The signing of the contract is not when everything is set in stone. A signed contract is necessary for the solicitor to exchange contracts at the suitable time, 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 lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Arundel)to be in the office available at the end of the phone to exchange contracts.
We are due to move home in April. Will my conveyancing solicitor liaise with the removal company on the completion day. As an aside, can you recommend a removal company in Arundel. Conveyancing firm was chosen before I stumbled across your website.
On the day of completion you can collect the keys from your selling agent but this can only be done once the sellers conveyancers advise the agent that the monies to complete are in and the keys can be given over. You should advise the removal company that they can start moving you in. As a matter of policy we do not recommend a specific removal organisation but can help you find a conveyancing in Arundel or a solicitor with expertise in conveyancing in Arundel.
We are getting the release of further funds on our home loan from UBS as we intend to carry out alterations to our home in Arundel. Do we need to select a local Arundel solicitor on the UBS conveyancing panel to deal with the paperwork?
UBS don't usually appoint a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
I currently have a mortgage with Yorkshire BS for my property in Arundel. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
You must advise Yorkshire BS prior to renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel lawyer.
I am looking for a flat up to £235,500 and found one near me in Arundel I like with amenity areas and railway links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Arundel in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How do I use the search facility to select a conveyancing lawyer in Arundel on the approved list for my lender?
1st pick a mortgage company such as Birmingham Midshires, The Mortgage Works or Alliance & Leicester then specify your preferred area for instance Arundel. Conveyancing firms in Arundel and across England and Wales will then be shown.
My nephew is about to join the property ladder, the home loan was agreed last week in principle. One the seller agreed the offer on the house we called the mortgage institution to move forward with his. We were shocked to discover that mortgage companies do not accept all lawyer, they need to be on their approved list, is this right?
Lenders ordinarily imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Arundel conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.