Am I correct in assuming that the fact that my conveyancer in Cheltenham is not on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That would most likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a 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 lawyer 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 Cheltenham conveyancing practice and enquire why they are no longer on the approved list for your bank.
The owners of the home we are purchasing hired a conveyancing firm in Cheltenham who has insisted on a lock out agreement with a non-refundable deposit two thousand pounds. Are such arrangements the norm for Cheltenham conveyancing transactions?
This form of arrangement isn't frequently used in Cheltenham, conveyancers are not keen on them as they detract from focusing on the primary objective, namely conveyancing and if you end up having your deposit forfeited then the lawyer is left exposed. Secondly, there is no assurance that just because the proprietor has signed an exclusivity agreement they will complete the sale with you. They may be motivated to break the contract if they receive a big enough offer to do so because a wronged buyer with the benefit of a lockout agreement will still be legally obliged to show losses as a consequence of the breach and these may not amount to the financial upside that your seller may secure by breaching the contract, no matter how morally reprehensible the behaviour is.
I have been told that property searches are the primary cause of obstruction in Cheltenham house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Cheltenham.
I'm converting the mortgage on my existing house to a buy to let mortgage with Lloyds TSB Bank and intend to use the remaining equity towards further house. The area we are interested in is Cheltenham. Will your conveyancers be able to act for the two lenders and tie in the transactions?
Make use of our search tool on this site to be sure that the solicitors are approved by both mortgage companies. On the basis that they are the lawyer should be able to simultaneously deal with the two transactions but you should talk with you solicitor and make apparent your expectations and needs.
We are a fortnight into a residential purchase having been referred to solicitors by the high street agent to execute conveyancing in Cheltenham. I am am very disappointed with the quality of service. Could you help me find new lawyers?
A lawyer would have to be very bad in order to consider changing them. Has your mortgage offer been issued? In the event that it has you need to make them aware of the replacement solicitor and get the loan are re-sent. Your conveyancer needs to be on the lenders approved list to avoid escalating fees and complications. That should be your starting point. Our find a solicitor tool will assist you in finding a lender approved lawyer for your home move in Cheltenham
I would be grateful if you could clarify what options are available to me where my Cheltenham conveyancing searches shows detrimental entries?
On the whole, the majority of problems exposed in Cheltenham conveyancing search results can be handled ahead of completion or indemnity insurance can be taken. You should remember that although you may be acquiring the premises and may be content to live with the search results, your mortgage lender may not, and ultimately they have the word say.