Am I correct in assuming that the fact that my conveyancer in Maida Vale is not identified on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% 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. If you are concerned you should simply call the Maida Vale conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
Should my solicitor be raising enquiries concerning flooding as part of the conveyancing in Maida Vale.
The risk of flooding is if increasing concern for lawyers dealing with homes in Maida Vale. There are those who buy a house in Maida Vale, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of searches that may be undertaken by the purchaser or by their lawyers which will give them a better appreciation of the risks in Maida Vale. The conventional set of information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to determine if the property has historically flooded. In the event that the residence has been flooded in past and is not revealed by the owner, then a purchaser could bring a legal claim for losses resulting from an misleading response. The buyer’s solicitors should also carry out an environmental report. This will disclose if there is a recorded flood risk. If so, more detailed investigations should be carried out.
Due to the guidance of my in-laws I had a survey completed on a property in Maida Vale in advance of retaining conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies will refuse to issue a mortgage on such a home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you contact us we can look into this further with 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 Maida Vale. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm converting the mortgage on my existing property to a BTL mortgage with Platform Home Loans Ltd and intend to use the remaining equity towards a second property. The location we are looking at is Maida Vale. Will your conveyancers be able to act for both sets of banks and link together the conveyances?
Do use our search tool on this page to ensure that the conveyancers are on the relevant lender panels. On the basis that they are the conveyancer will be able to tie up the two deals but you should talk with you conveyancer and specify your expectations and needs.
My husband and I are one month into a residential purchase having been recommend to solicitors by the estate agent to do our conveyancing in Maida Vale. We are not happy. Could you you assist me in finding new lawyers?
They would have to be very poor in order to consider diss instructing them. Has the mortgage been sent? In the event that it has you will need to make them aware of the new contact details and ensure the loan are issued to the new lawyers. Your new solicitor ideally needs to be on the mortgage company panel to avoid added fees and frustration. So that should be your starting point. The find a solicitor tool should assist you in finding a lender approved conveyancer for your conveyancing in Maida Vale
My brother-in-law has suggested I instruct a conveyancing solicitor in Maida Vale. I need to find out if they are on the bank's approved list of lawyers. Could you advise?
It’s a good idea phone your conveyancer to check if they are on the bank's approved list. Alternatively please get in touch with us and we can investigate and revert. If they are not on the lender panel we we can help find a specialist conveyancing solicitor in Maida Vale on the approved list for your mortgage company.