Is the fact that my conveyancer in New Waltham is not on my bank's conveyancing panel that there is a problem with the standard of his conveyancing?
That would most likely be an incorrect 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 simply call the New Waltham conveyancing firm and enquire why they are no longer on the approved list for your bank.
Would the conveyancing solicitors that you recommend perform right to buy conveyancing in New Waltham?
We do have plenty of conveyancing firms carrying out right to buy transactions You should get in touch with us to secure a costs calculation.
We had instructed solicitors locally in New Waltham on the Yorkshire BS solicitor approved list. They have just billed me a supplemental amount for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner can charge a fee for this. The fee is not dictated by Yorkshire BS but by your New Waltham solicitor. Plenty of firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
I was told two weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in New Waltham is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
Barclays have agreed my home loan in principle, my offer on a flat in New Waltham has been accepted, what are the next steps?
The estate agent will need to know who your solicitors are (ensure that the property lawyers are on the bank’s approved list). Contact Barclays or your broker and finish off any outstanding documentation. Barclays will sellect a valuer who will get in contact with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Barclays will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in New Waltham.
What does a local search reveal regarding the property we're purchasing in New Waltham?
New Waltham conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search is essential in every New Waltham conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I opted to have a survey done on a property in New Waltham before appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some lenders may refuse to give a loan on such a property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in New Waltham. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I be wary by estate agents that I am dealing with are recommending a web based conveyancing firm rather than a local New Waltham conveyancing company?
As is the case with lots of service providers, often recommendations from family and friends can be most helpful. Yet there are many players in a conveyancing deal; estate agents, mortgage brokers and banks may suggest conveyancers to appoint. On occasion the solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the recommendation. You are free to appoint your own conveyancer. However, bear in mind that the majority of banks specify a panel list of law firms you have to use for the mortgage aspect of your home move.