Is the fact that my conveyancer in Hanham is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That would most likely be an incorrect assumption to make. There are plenty of plausible 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) lack 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. If you are concerned you should contact the Hanham conveyancing practice and ask them why they are no longer on the approved list for your bank.
The owners have very assertive vendors who has suggested a exclusivity agreement with a down payment 6,000. Are such agreements sensible?
There are a couple of main concerns with entering into any lock out agreement (also termed a shut-out contract) is that it can distract from making progress with the conveyancing transaction itself, so in the absence of it needing minimal or no negotiation then it could transpire to be a hindrance. It is not promoted amongst Hanham conveyancing solicitors for this reason. The other main negative is the extent of the remedies available - an aggrieved buyer is extremely unlikely to be granted injunctive relief to stop the owner selling to another buyer, so the only remedy available under the contract will be the reimbursement of abortive costs and, in limited scenarios, the extra payment of damages.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would much rather use a high street conveyancing solicitor in Hanham?
Do check but the the likelihood is that appoint one of their panel conveyancers should you want the "fee-free" incentive. Contact the lender and determine if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Hanham.
Various online forums that I have come across warn that are the main reason for hinderance in Hanham conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Hanham.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The conveyancers who did the conveyancing in Hanham 4 years ago have long since closed. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your solicitor should be aware precisely where to locate all the suitable documentation so you may purchase or dispose of your property without a hitch. Where copies can’t be found, your solicitor can put in place insurance or indemnities protecting you against possible claims on your property.
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Hanham I like with open areas and railway links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Hanham suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing 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 existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.