Am I correct in assuming that the fact that my solicitor in Petersham is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are plenty of plausible 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 most common reasons for removal are: (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 Petersham conveyancing firm and ask them why they are no longer on the approved list for your bank.
When does exchange of contracts occur in domestic conveyancing in Petersham and am I required to attend the lawyers office?
If you are local to our conveyancing solicitors in Petersham you are welcome to attend to sign contracts. However, the law practices we recommend supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when dealing with you by post or email. The executing of the sale agreement is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the firm to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Petersham)to be in the office at the appropriate time.
I require quick conveyancing in Petersham as I am under a deadline to exchange contracts in less than one month. Fortunately I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are are a cash buyer you have the choice not to have searches carried out although no lawyer would advise that you don't. Drawing on years of experience of conveyancing in Petersham the following are instances of issues that can show up and therefore affect future mortgageability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
Despite weeks of looking the Title Certificate and documents to our property can not be found. The lawyers who conducted the conveyancing in Petersham 4 years ago no longer exist. What are my next steps?
As long as the title is registered the information relating to your ownership will be retained by HMLR under a Title Number. It is possible to conduct a search at the Land Registry, locate your property and order up to date copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Petersham is the location of the property. What do you suggest?
Flying freeholds in Petersham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Petersham you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Petersham 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.
We are in the middle of buying a residence in Petersham. Conveyancing lawyer has told us the title is "Leasehold". Should this adversely affect our home loan valuation?
Petersham conveyancing does not normally involve leasehold houses. The key consideration here is the length of lease and the ground rent. If there are over a hundred years remaining with a nominal rent, it's virtually freehold, so it’s unlikely to affect the value significantly.
On the flip side, if it's, say, 50 years it will have a adverse effect on the value, and most likely wouldn't be acceptable to the lender. The length of lease and ground rent will be specified in the lease which should be made available to your solicitor.