Am I correct in assuming that the fact that my solicitor in Hathern is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly plausible 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 top 5 reasons are as follows: (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 Hathern conveyancing firm and ask them why they are no longer on the approved list for your bank.
I am in a contract race with another buyer for a property in Hathern. What can be done to speed up the conveyancing process?
First, If the seller is applying a tight deadline to complete it is highly recommended that your solicitor is familiar with the area as they will benefit local contacts and intelligence. It is possible that they may have conducted previousproperties in the same neighbourhood. Therefore consider using a Hathern conveyancing firm. Second, ensure that the lawyer is on the on the approved list for your mortgage company. It is estimated that 18% of Hathern conveyancing transactions are held up or jeopardised after finding out that a purchaser’s conveyancer was not on their banks member panel. In many cases this discovery resulted in the transaction being delayed by an average of 21 days. It is said that this issue impacts in the region of 100,000 home sales annually. Many Hathern conveyancing firms can not act for certain banks so do check at the outset.
A colleague recommended that if I am purchasing in Hathern I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Hathern conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Hathern around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hathern Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Hathern Education with plans and statistics, Local Amenities and other useful information regarding Hathern.
I opted to have a survey done on a property in Hathern in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend not issue a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hathern. Conveyancing will be smoother if you use a solicitor in Hathern especially if they are acquainted with such properties in Hathern.
Am I right to be wary by 3rd parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street Hathern conveyancing firm?
As is the case with lots of professional services, often recommendations from connections can be worth their weight in gold. Nevertheless there are numerous parties with a vested interest in a conveyancing deal; estate agents, financial adviser and banks might all put forward solicitors to use. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the recommendation. You have the discretion to choose your preferred lawyer. However, bear in mind that many lenders operate an approved list of solicitors you must use for the mortgage aspect of your conveyancing.
I pay a maintenance fee for my flat in Hathern. Due to redundancy and personal issues I slipped behind with payments. The managing agents agreed a payment plan but there remains in the region of £2000 outstanding as of today.
I now wish to dispose of the property and I am panicking this will threaten to derail the sale if I have to settle the arrears in advance. Do I have to settle before - is this possible?
The property lawyer undertaking your Hathern sale will hopefully be able to negotiate with the management company, with a new to seeing if they would accept payment from completion monies. This is an example of why it is advisable to choose a conveyancing practitioner in Hathern as they are likely to have an established relationship with the management company.