Is the fact that my conveyancer in Arundel 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 revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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 Arundel conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
At what point will exchange of contracts take place for purchase conveyancing in Arundel and do I need to be at the conveyancers office?
Where you are in close proximity to one of the conveyancing solicitors in Arundel you are invited in to sign documents. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give as equally diligent and professional a job for you when dealing with you by post or email. The signing of the property agreement is not the point of no return. A signed contract simply enables the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Arundel)to be in the office at the appropriate time.
I am planning to move house in April. Will my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you recommend a removal company in Arundel. Conveyancing solicitor was found before I stumbled across this website.
On the day of completion you will need to pick up the house keys from the estate agent however this can only occur after the sellers solicitors inform the agent that the monies to complete are in and the keys can be given over. After that you will need to tell the removal company that they can start moving you in. We are not in a position to recommend a particular removal organisation but can help you choose a residential property solicitor in Arundel or a firm with expertise in conveyancing in Arundel.
My wife and I have arranged the release of further funds on our home loan from Clydesdale as we want to carry out alterations to our property in Arundel. Are we obliged to select a high street Arundel solicitor on the Clydesdale conveyancing panel to deal with the legals?
Clydesdale 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 Clydesdale conveyancing panel.
The mortgage over my property is with Lloyds for my property in Arundel. Conveyancing has been completed 12 months 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 buy-to-let mortgage or inform Lloyds?
Lloyds must be informed of your intention prior to renting your property as this is likely to be a breach of Lloyds’s mortgage conditions. In many cases banks or building societies 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 Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel lawyer.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Arundel I like with open areas and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Arundel for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage that many years will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises 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 with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
Is it simple use the search app to locate a conveyancing solicitor in Arundel on the panel for my lender?
1st select a lender such as Santander, Norwich and Peterborough Building Society or Aldermore then type in your location for example Arundel. Conveyancing organisations in Arundel and across England and Wales will then be identified.
My step-son is about to join the property ladder, the home loan was agreed last week in principle. One the seller agreed the offer on the apartment we called the mortgage institution to progress the mortgage application. I was shocked to learn that mortgage companies do not accept all lawyer, they must be on their panel, is this correct?
Mortgage Companies tend to restrict either the type or the number of conveyancing firms on their panel. 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 lenders 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.