Am I correct in assuming that the fact that my conveyancer in Leominster is not on my lender's conveyancing panel that there is a problem with the standard of his work?
That is more than likely an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a 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) lack 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. Should you be concerned you should contact the Leominster conveyancing firm and ask them why they are no longer on the approved list for your lender.
I am purchasing a new build apartment in Leominster and my conveyancer is informing me that she is duty bound to the mortgage company to reveal incentives from the developer. I am under pressure to sign contracts and I have no desire to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is it the case that all Leominster CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing list of approved firms?
Some major banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
Can I be sure that the Leominster conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Leominster seeking recommendations is a sensible starting point. 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 advertising the lowest fees. We would always suggest that you speak with the solicitor handling your conveyancing.
Lloyds have agreed my mortgage in principle, my bid on a apartment in Leominster has been accepted, what happens next?
Your property agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Telephone Lloyds or the broker and finish off any outstanding paperwork. Lloyds will instruct a valuer who will get in contact with the selling agent or seller to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Lloyds will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Leominster.
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who handled the conveyancing in Leominster 10 years ago have long since closed. Will I be able to sell the house?
Assuming the title is registered the details of your proprietorship will be recorded by HMLR with a Title Number. It is possible to carry out a search at the Land Registry, identify your house and get up to date copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will usually hold a file copy of the Registered Lease and again, a copy can be obtained for a small fee.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Leominster is the location of the property. What do you suggest?
Flying freeholds in Leominster are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Leominster you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leominster may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Are there any distinct advantages to using a local conveyancing practitioner in Leominster
Many buyers and sellers in Leominster decide on using a local conveyancer so that they can visit in the event that they have problems, and to collect mortgage deeds without using the Royal Mail.
There is a distinct advantage when opting for a lawyer nearby to the property you are buying, due to the in-depth knowledge of the area and possible local concerns - nevertheless this is debatable. Many conveyancers undertaking their communications online and could be any place in the world.