Am I correct in assuming that the fact that my conveyancer in Bootle is not listed on my bank's solicitor panel that there is a problem with the quality of her conveyancing?
That would most likely be a wrong assumption to make. 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) low volume 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. If you are concerned you should contact the Bootle conveyancing practice and ask them why they are no longer on the approved list for your bank.
I am buying a right to buy a flat in Bootle. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Bootle you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Bootle.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bootle
Two types of professional can do conveyancing in Bootle namely licenced conveyancers or solicitors. Both professionals provide conveyancing services that you need to complete the sale or acquisition of property. They are both obliged to carry out Bootle conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be properly administered and that the requirements and steps should be correctly followed.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Bootle building society branch on various occasions and was told it wasn't a problem and they will lend. My Bootle conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the conveyancer is on the mortgage company approved list, they must comply with the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer agreed on an apartment in Bootle. My financial adviser pressured me to appoint their solicitor. I paid an advanced payment of £225. Soon after, the property lawyer contacted me embarrassingly acknowledging that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Bootle?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Bootle. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Bootle differ for newly converted properties?
Most buyers of new build property in Bootle approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because developers in Bootle usually acquire 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 used to new build conveyancing in Bootle or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Bootle I like with a park and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Bootle in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner 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 current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.