Am I correct in assuming that the fact that my conveyancer in Hedge End and Botley is not identified on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a 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 Hedge End and Botley conveyancing practice and enquire why they are no longer on the approved list for your lender.
My fiance and I are refinancing our penthouse in Hedge End and Botley with Yorkshire BS. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two questions (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Yorkshire BS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Yorkshire BS. This is solely used to protect Yorkshire BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Yorkshire BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
As someone not used to conveyancing in Hedge End and Botley what’s your top tip you can give me for the house moving process in Hedge End and Botley
Not many law firms or advisers will tell you this but conveyancing in Hedge End and Botley and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is lots of opportunity for friction between you and other parties involved in the legal transfer of property. E.g., the vendor, estate agent and on occasion your mortgage company. Choosing a law firm for your conveyancing in Hedge End and Botley is a critical decision as your conveyancer is your adviser, and is the ONE party in the process whose interest is to act in your legal interests and to protect you.
There is a distinct ongoing adversarial element to conveyancing- someone must be blamed for the process being so protracted. We recommend that you must always trust your solicitor above the other parties when it comes to the legal assignment of property.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Co-operative Conveyancing panel ahead of completing my conveyancing in Hedge End and Botley?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My wife and I are purchasing a flat in Hedge End and Botley. It might be a silly question but how we can trust a conveyancer? At some point we have to send funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Can I be sure that the Hedge End and Botley conveyancing solicitor on the Bank of Ireland panel is any good?
When it comes to conveyancing in Hedge End and Botley getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction.
Completion of my purchase has taken place for my property in Hedge End and Botley. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
How does conveyancing in Hedge End and Botley differ for new build properties?
Most buyers of new build property in Hedge End and Botley approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Hedge End and Botley tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hedge End and Botley or who has acted in the same development.