Am I correct in assuming that the fact that my conveyancer in Stourport On Severn is not listed on my bank's solicitor panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume 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 simply call the Stourport On Severn conveyancing firm and ask them why they are no longer on the approved list for your lender.
My wife and I intend to remortgage our apartment in Stourport On Severn with Coventry BS. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Coventry BS conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
When can the exchange of contracts occur in domestic conveyancing in Stourport On Severn and do I need to be at the lawyers branch?
If you are near to our conveyancing solicitors in Stourport On Severn you are welcome to attend to sign contracts. However, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when dealing with you by post or email. The executing of the property agreement is not the point of no return. A signed contract simply enables the solicitor to officially exchange at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Stourport On Severn)to be in the office available at the end of the phone to exchange contracts.
Please explain the implications if my solicitor is suspended from the RBS Solicitor panel ahead of completing my conveyancing in Stourport On Severn?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My wife and I are planning on selling our home in Stourport On Severn and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any high street Stourport On Severn conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a national conveyancing firm rather than a conveyancing solicitor in Stourport On Severn. Having lived in Stourport On Severn for 4 years we know that this is a non issue. Do we get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I opted to have a survey carried out on a house in Stourport On Severn in advance of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders may not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Stourport On Severn. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stourport On Severn to see if the conveyancing will be more expensive.