Am I correct in assuming that the fact that my solicitor in Edith Weston is not listed on my mortgage company's solicitor panel that there is a problem with the standard of her work?
That would most likely be a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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 Edith Weston conveyancing practice and enquire why they are no longer on the approved list for your lender.
My lawyer has identified a defect with the lease for the property we are purchasing in Edith Weston. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer has advised that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
How up to date is your database of Edith Weston solicitors on the Aldermore conveyancing panel? Do Aldermore send you an updated list?
Edith Weston conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
I am planning to acquire a property and need a conveyancing solicitor in Edith Weston who is on the Barclays approved. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Barclays in certain locations such as Edith Weston. We dont recommend any particular firm.
We are close to exchanging contracts on the sale of our home in Edith Weston and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Edith Weston conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in Edith Weston. We have lived in Edith Weston for many years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Edith Weston I like with open areas and transport links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Edith Weston suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.