Unfortunately I am unable to travel far from Thatcham. What is the rationale as to why all Thatcham conveyancing practitioners are not on all mortgage company panels?
Lenders normally restrict either the type or volume of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a organisation must have at least two partners. As well as restricting the type of firm, some lenders decided to reduce the size of their panel they allow to act for them. You should note that mortgage companies have no accountability for the standard of advice supplied by any Thatcham conveyancer on their approved list. Property fraud was the main trigger for the culling of conveyancing panels in the last decade even though there are contrary opinions concerning whether solicitors sat at the center of that fraud. Data published by the Land Registry reveal that thousands of conveyancing firms only conduct a couple of conveyances annually. Those supporting conveyancing panel culls question why law firms should have the right to be listed on a conveyancing panel when clearly property law is not their primary expertise?
I am purchasing a property mortgage free in Thatcham. I have lived for the previous dozen years in Thatcham. Conveyancing searches are a lot of money. Given that I know the road and vicinity intimately must I have all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Thatcham conveyancing searches are optional. Your lawyer will ’encourage you, perhaps strongly, that you should have searches done, but she is duty bound to take that path of guidance. Do bear in mind; if you are going to dispose of the house in the future, it may be of importance to your prospective purchaser what the searches reveal. Sometimes premises with day to day issues can still reveal adverse search results. A competent conveyancing solicitor in Thatcham will be able to give you some helpful guidance here.
At what point can the exchange of contracts happen for residential conveyancing in Thatcham and am I required to attend the lawyers office?
If you are in close proximity to our conveyancing solicitors in Thatcham you are invited in to sign documents. That being said, the law practices we work with provide countrywide coverage for conveyancing and provide just as diligent and professional a job for you when dealing with you digitally. The signing of the property agreement is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Thatcham)to be in the office available at the end of the phone to exchange contracts.
I just acquired a house at auction in Thatcham. Conveyancing is required. What happens now?
Having legally bound yourself to purchase you now have to hire the services of a conveyancing solicitor quickly as you will have a fast approaching a fixed date to complete the property. Every auction property should have a bespoke legal pack. This will likely include most,if not all of the documents that your lawyer requires. In the case of leasehold premises the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You need to pass this on to the solicitor working for you ASAP. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
is it true that all Thatcham solicitor firms on the Skipton conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be overseen by the CLC.
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Thatcham is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
The deeds to my home are lost. The conveyancers who did the conveyancing in Thatcham 5 years ago have long since closed. What are my options?
Assuming the title is registered the information relating to your proprietorship will be retained by HMLR under a Title Number. It is possible to execute a search at the Land Registry, locate your house and obtain up to date copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Thatcham I like with open areas and station nearby, however it's only got 52 years on the lease. There is not much else in Thatcham in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the shortness of the lease may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.