Is the fact that my conveyancer in Farnham is not on my lender's conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters 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. Where you are concerned you should contact the Farnham conveyancing firm and ask them why they are no longer on the approved list for your lender.
Is it possible for conveyancing in Farnham to be completed in under 3 weeks?
Where you are under time constraints for your conveyancing it is advisable to make sure that your solicitor is familiar with the location as they will make use of local relationships and knowledge. It is even conceivable that they would have conducted previoushouses in the same street. You would be best advised to use a Farnham conveyancing solicitor. Second, be sure that the lawyer is on the lender panel. It is believed that 18% of Farnham conveyancing transactions are held up or jeopardised after discovering a purchaser’s lawyer was not on their mortgage lender’s list of approved solicitors. This can often result in the home move being delayed by as much as three weeks. It is claimed that this issue affects in the region of one hundred thousand home sales annually. Most Farnham conveyancing firms can not act for certain banks so do check at the outset.
My husband and I wish to acquire a 3 bedroom flat in Farnham with a loan from Accord Mortgages Ltd.We have a Farnham conveyancing practitioner but Accord Mortgages Ltd says her practice is not listed on their approved list of member firms. we are left little option but to use a Accord Mortgages Ltd panel lawyer or retain our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The loan offered to you contains various provisions, a common one being that lawyers must be on the Accord Mortgages Ltd approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Accord Mortgages Ltd
Have just purchased a probate house at auction in Farnham. Conveyancing is needed. What happens now?
Having legally bound yourself to purchase you now have to retain a conveyancing solicitor soon as you are faced with a fast approaching a fixed date to complete the deal. Every auction property will have a bespoke legal pack. This will likely include evidence of title and search results. In the case of leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You must hand this to the solicitor instructed by you at the earliest opportunity. Do make sure that you have funds in place to complete the transaction on the set completion date.
My uncle informed me that in buying a property in Farnham there could be various restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of a number of properties in Farnham which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Farnham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with RBS. I assume I don't need a Farnham property lawyer on the RBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
The deeds to my home can not be found. The solicitors who did the conveyancing in Farnham 4 years ago no longer exist. What are my next steps?
Assuming the title is registered the information relating to your proprietorship will be retained by the Land Registry under a Title Number. It is possible to conduct a search at the Land Registry, locate your house and secure current copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will also normally hold a certified duplicate of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
Am I best advised to use a Farnham conveyancing lawyer based in the vicinity that I am buying? An old friend can execute the legal work but they are based a couple of hundredkilometers drive away.
The benefit of a high street Farnham conveyancing firm is that you can visit the firm to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local Farnham know how is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and in the main were content that should surpass using an unknown Farnham conveyancing solicitor just because they are round the corner.