I can't travel far from Strawberry Hill. What is the rationale as to why all Strawberry Hill property lawyers aren't automatically on all bank panels?
Before the recession most lenders displayed an attitude to risk which is different from today. The financial regulator in 2010 carried out a thematic review into fraud which in summary warned lenders: know the conveyancing practitioners on your panel. Consequently, banks have subsequently soughtmore information from law firms about their processes and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum volume of transactions the lenders required.
It is a dozen years since I bought my property in Strawberry Hill. Conveyancing solicitors have now been instructed on the sale but I am unable to find my title documents. Is this a major issue?
Don’t worry too much. First there is a possibility that the deeds will be with the lender or they could be in the possession of the conveyancers who oversaw your purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Strawberry Hill relates to registered property but in the rare situation where your property is not registered it is more tricky but is resolvable.
I have been told that property searches are the main cause of delay in Strawberry Hill house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Strawberry Hill.
I am looking for a flat up to £305k and found one close by in Strawberry Hill I like with a park and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Strawberry Hill suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Am I right to be concerned that estate agents that I am dealing with are suggesting a national conveyancing firm rather than a High Street Strawberry Hill conveyancing firm?
As with many professional services, often suggestions from relatives can be very helpful. Yet there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest solicitors to retain. On occasion these solicitors might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the endorsement. You are at liberty to select your preferred lawyer. You need to be aware that most banks specify a panel list of conveyancers you have to use for the mortgage related work in your home move.
In sourcing the internet for the phrase cheap conveyancing in Strawberry Hill it brings up many solicitorslocally. With so much choice what is the best way to find the right property lawyer for the sale of my house?
The best method of finding a suitable conveyancer is through a trusted testimonial, so ask friends and family who have purchased a property in Strawberry Hill or the reputable estate agent or mortgage broker. Fees for conveyancing in Strawberry Hill vary, so it's sensible to secure a minimum of three quotes from varying types of solicitors. Make sure that you know that the costs are guaranteed not to escalate.