Is the fact that my solicitor in Paulton is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
It would be unwise to jump to that conclusion. There are plenty of 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 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 contact the Paulton conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My solicitor has uncovered a a problem with the lease for the property we are purchasing in Paulton. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
It is 10 years ago since I bought my home in Paulton. Conveyancing lawyers have just been appointed on the sale but I am unable to locate my deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be kept by the mortgage company or they may be in the possession of the lawyers who oversaw the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Paulton involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
How does conveyancing in Paulton differ for new build properties?
Most buyers of new build property in Paulton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Paulton tend to buy the land, 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 conveyancers 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 accustomed to new build conveyancing in Paulton or who has acted in the same development.
My business partner and I are hoping to lease a unit on the high street. Can you recommend lawyers offering no-sale-no costs for commercial conveyancing in Paulton for below 1500k?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Paulton, including the disposal and purchase of businesses as well as simply property. Whether you are intending to buy or sell a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. As for the costs this will depend on the structure and terms of the deal. Let us have your contact information or phone so as to enable us to furnish you with a detailed commercial conveyancing quote.
How easy is it to change a solicitor as I need to find a Paulton based conveyancer who is on the lender conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet appointed a solicitor to start work and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Paulton that you're thinking of instructing.