Am I correct in assuming that the fact that my conveyancer in Wandsworth is not identified on my mortgage company'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 all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack 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. Where you are concerned you should simply call the Wandsworth conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
My wife and I are buying a property in Wandsworth. I might seem paranoid but how we can trust a solicitor? At some point we will need to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am expecting a OIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Wandsworth solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Wandsworth solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
My husband and I are in the process of looking at flats in Wandsworth and I am now considering a potential offer. Is it wise to have a conveyancer on ‘stand by’? I will be getting a mortgage with Santander.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are getting a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
What does a local search reveal about the property we're purchasing in Wandsworth?
Wandsworth conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search is essential in every Wandsworth conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
three months have elapsed following my purchase conveyancing in Wandsworth took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Wandsworth is where the house is located. Is there any advice you can give?
Flying freeholds in Wandsworth are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wandsworth you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wandsworth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Do I stop the direct debit for my mortgage with UBS once a completion date for my sale in Wandsworth has been agreed?
No, you must maintain meeting any mortgage payments to UBS until the mortgage is discharged out of the proceeds of sale as part of your Wandsworth conveyancing.