Is the fact that my solicitor in Martock 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 be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume 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. Where you are concerned you should contact the Martock conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
In researching moneysavingexpert.com for a conveyancing lawyer in Martock, most comment that I must look for a CQS assured solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home ownership transfers, trusted by some of the UK's major lenders. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Martock is one of the numerous areas in England and Wales where there are CQS solicitors.
What is the difference between a licensed conveyancer and conveyancing solicitor in Martock
There are two types of lawyers who can execute conveyancing in Martock namely CLC regulated conveyancers or solicitors. The two can handle the legal services that required to complete the sale or purchase of property. They are both required to perform Martock conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be properly administered and that the necessary procedures will be correctly taken.
It is unclear whether my bank requires a lease extension. I have called my Martock building society branch on numerous occasions and was told they are content with the situation and they will lend. My Martock conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the lawyer is on the bank panel, she or he must follow the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Planning on purchasing a flat in Martock. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Martock lawyer is on the Kent Reliance conveyancing panel.
I used Stirling Law several years past for my conveyancing in Martock. Now, I need my files but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Martock of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £195,000 and identified one near me in Martock I like with a park and station nearby, however it only has 51 years on the lease. There is not much else in Martock in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I have been pointed in your direction by two or three local selling agents in Martock to get a quote from a solicitor using your seach tool. Is there a financial advantage for Estate Agents to offer your lawyers over and above a competitor’s?
We don’t offer any financial incentive for sending work in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.