Am I correct in assuming that the fact that my solicitor in Rusholme is not on my bank's conveyancing panel that there is a problem with the quality of her work?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 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 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 Rusholme conveyancing practice and ask them why they are no longer on the approved list for your bank.
After researching online forums for a cheap lawyer in Rusholme, many comment that I should use a CQS assured lawyer. What is CQS?
Rusholme Conveyancing Quality Scheme practices have been granted certification under the Law Society's Scheme (CQS) The Law Society created CQS to establish evidence of quality standards in the home buying process. CQS helps consumers to identify solicitor firms who provide a quality residential conveyancing. Rusholme is one of locations in England and Wales in which accredited firms are located. The scheme obliges solicitors to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
My wife and I own a 4 bedroom Georgian house in Rusholme. Conveyancing lawyer represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rusholme and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who carried out the work.
How does conveyancing in Rusholme differ for newly converted properties?
Most buyers of new build or newly converted property in Rusholme come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Rusholme typically acquire the site, 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 property lawyers 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 used to new build conveyancing in Rusholme or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Rusholme is where the house is located. Is there any advice you can give?
Flying freeholds in Rusholme are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rusholme you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rusholme may decide 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 property.
My fiance and I are buying a three room first floor flatin Rusholme with a loan from a bank. We like our conveyancer in Rusholme however our lender says she’s not approved on their "panel". We have to appoint one of the our mortgage company panel solicitors or keep our Rusholme solicitor and incur the extra legals for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage company home loan issued is subject to conditions, one of which will be that solicitors will on the mortgage company's conveyancing panel. in the past, most banks had open panels, including most conveyancing solicitors in Rusholme : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your bank.