Is the fact that my conveyancer in Forest Hill is not on my bank's solicitor panel that there is a problem with the standard of his work?
That is most likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 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 Forest Hill conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
We are about to exchange contracts for a property in Forest Hill. We have hit a stumbling block. Our loan offer with Accord Mortgages Ltd runs out on 22/8/2025 but the sellers are insisting on a completion date of 27/8/2025. Is it possible to prolong the loan expiry date?
The person best placed to address this question is your solicitors who should assess whether they corresponding with the bank, vendor’s lawyers, estate agents or indeed all three taking into account what has happend in your transaction as of today.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would much rather use a Forest Hill based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers should you want the "fee-free" incentive. Call the mortgage company and see if they allow a monetary alternative. In the past a few lenders offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Forest Hill.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Forest Hill I like with amenity areas and transport links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Forest Hill suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan that many years may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I am using a search engine for the phrase on line conveyancing in Forest Hill it shows results of numerous conveyancerslocally. With so much choice what is the best way to find the right solicitor for me?
The preferential method of choosing a suitable conveyancer is via personal testimonial, so seek the opinion of colleagues and family who have bought a property in Forest Hill or the reputable estate agent or financial adviser. Costs for conveyancing in Forest Hill differ, so it's a good idea to secure at least four estimates from different law firms. Be sure to seek confirmation that the fees are fixed.
My husband and I are acquiring a 2 bedroom flat in Forest Hill. When we first instructed solicitor, they assured us that they were on all mainstream lender panels. Our financial adviser emailed yesterday to say that they don't seem to be on the Barclays approved list. Should that be true, what should we do? Do we simply choose a new lawyer that is on their approved list or should we cover the costs for separate representation, with Barclays appointing their own preferred conveyancer.
When purchasing a property with mortgage finance it is conventional for the purchaser’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a solicitor has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to meet. Some banks now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your lawyer should contact Barclays to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Barclays's conveyancing panel and you may continue to use your own Forest Hill solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.