Am I correct in assuming that the fact that my solicitor in Somerstown is not identified on my mortgage company's solicitor panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 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. If you are concerned you should simply call the Somerstown conveyancing firm and ask them why they are no longer on the approved list for your lender.
I am under pressure from the mortgagee in possession of a property in Somerstown to complete within four weeks. What can be done to quicken up the conveyancing process?
Where the seller is applying time constraints for your conveyancing it is highly recommended that your solicitor is familiar with the location as they will make use of local relationships and intelligence. It is possible that they would have transacted previoushomes in the same street. You would be best advised to use a Somerstown conveyancing lawyer. Second, make sure that the conveyancing firm is on the member panel. It is believed that 18% of Somerstown conveyancing transactions are held up or derailed after finding out that a buyer’s solicitor was not on their banks panel. In many cases this discovery resulted in the legal process being held up by as much as three weeks. It is estimated that this issue impacts approximately one hundred thousand home moves annually. Many Somerstown conveyancing firms can not act for certain banks so do check as early as possible.
Does a directory service exist listing Bank of Ireland panel conveyancers in Somerstown on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the CML or Building Society Association websites. A small selection of lenders make their panel listings visible on the web. If you are in need of a Somerstown property lawyer on the Bank of Ireland please make the most of our facility.
We are getting a further advance on our mortgage from Aldermore as we want to conduct renovations to our property in Somerstown. Do we need to choose a local Somerstown solicitor on the Aldermore conveyancing panel to deal with the paperwork?
Aldermore do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
I can not work out if my bank requires a lease extension. I have called my Somerstown building society branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Somerstown conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. I have no idea who is right.
Your solicitor has to follow the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I need some expedited conveyancing in Somerstown as I am under an ultimatum to complete inside 3 weeks. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save money and time?
If.Given you are not taking a mortgage you are at free not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Somerstown the following are examples of what can crop up and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
My wife and I purchased a terraced Victorian property in Somerstown. Conveyancing lawyer acted for me and Britannia. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to read 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 Somerstown 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 enquire as to the situation with the conveyancing solicitor who conducted the purchase.
My brother-in-law has suggested I instruct a conveyancing solicitor in Somerstown. I need to find out if they are on the bank's approved list of lawyers. Can you help?
You should call your lawyer to enquire if they are on the bank's approved list. Alternatively please call us and we can make some checks for you. If they are not on the bank panel we we can help find a specialist conveyancing solicitor in Somerstown on the approved list for your lender.