Am I correct in assuming that the fact that my conveyancer in Pitstone is not identified on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s work?
That would most likely be an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 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 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 Pitstone conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
All was ready to move into my new home in Pitstone next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These obligations are not specific to conveyancing in Pitstone.
Is it the case that all Pitstone solicitor firms on the Yorkshire BS conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be regulated by the SRA. Many lenders do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I have a mortgage with Virgin Money for my property in Pitstone. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
You must advise Virgin Money in advance of renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. You need not do this via a Virgin Money conveyancing panel solicitor.
The formalities of my purchase has taken place for my property in Pitstone. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Just had an offer accepted on a new build flat in Pitstone. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Pitstone
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I am thinking of appointing a conveyancing solicitor in Pitstone for my home move. Is there any facility to review a solicitor's complaints history with the legal regulator?
Anyone can review published Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded call for training reasons.
Me and my husband accepted an offer on a Pitstone property we inherited six years ago in 2011. I have over 12 years conveyancing know-how and, now retired, see no reason not to undertake the conveyancing. The purchaser's lawyer has informed me that their mortgage company will not allow us to do our own conveyancing requiring the funds to be transferred to a solicitor's bank account.
Mortgage instructions to solicitors from all mainstream lenders specify that If the seller does not have legal representation the purchaser’s lawyers should check whether the mortgage company needs to be informed so that a decision can be made as to whether or not they are prepared to progress.