I am not in a position to travel far from Shooter's Hill. What is the rationale as to why all Shooter's Hill conveyancing practitioners aren't automatically on all lender panels?
Pre- 2008 most mortgage companies displayed an approach to risk which differs from the current day. The financial regulator in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the solicitors on your panel. As a result, banks have subsequently requiredmore data from law firms regarding their operations and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Many firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the lenders insisted on.
My wife and I are purchasing a newly constructed duplex in Shooter's Hill and my conveyancer is informing me that she has to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to sign contracts and my preference is not to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is is a decade since I bought my house in Shooter's Hill. Conveyancing solicitors have now been appointed on the sale but I am unable to track down my deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be kept by your lender or they could be in the possession of the lawyers who handled your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Almost all conveyancing in Shooter's Hill involves registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
Can you help - my lawyer advises that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Shooter's Hill?
The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Nationwide Building Society and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
Is it the case that all Shooter's Hill conveyancing solicitors on the UBS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the UBS conveyancing panel they would need to be governed by the SRA. The majority of banks do list licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
Completion of my remortgage has taken place for my property in Shooter's Hill. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Will commercial conveyancing searches reveal planned roadworks that may impact a commercial estate in Shooter's Hill?
Many commercial conveyancing solicitors in Shooter's Hill will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Shooter's Hill. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Shooter's Hill.
For each commercial conveyancing transaction in Shooter's Hill it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could cause delays to Shooter's Hill commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Shooter's Hill.
We are about to purchasing a property in Shooter's Hill. Could the lawyer have our purchase price a secret from sites such as Nestoria. How do I make sure this is not disclosed?
The Land Registry by statute are required to note price sold data on the official title for residential properties nationwide including premises in Shooter's Hill. The register of title is an open document, so the Land Registry would be breaking the law if they did not permit access to the register.
You can make a request of the Land Registry to hide the price paid entry but the response would be a No.