Am I correct in assuming that the fact that my solicitor in Wavertree is not listed on my bank's solicitor panel that there is a problem with the quality of the firm’s work?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated 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) 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. Should you be concerned you should simply call the Wavertree conveyancing practice and ask them why they are no longer on the approved list for your lender.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Wavertree so that I can pop in to their offices if required.
As opposed to twenty years ago, almost all mortgage companies no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to supply identification documents and there are still distinct benefits to using a local practitioner, in your case a conveyancing solicitor in Wavertree.
Should our conveyancer be raising questions concerning flooding during the conveyancing in Wavertree.
Flooding is a growing risk for lawyers specialising in conveyancing in Wavertree. Plenty of people will buy a house in Wavertree, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a various checks that can be initiated by the purchaser or by their lawyers which should figure out the risks in Wavertree. The standard property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to determine if the property has suffered from flooding. In the event that the residence has been flooded in past and is not notified by the seller, then a buyer could bring a compensation claim stemming from an inaccurate response. A buyer’s lawyers may also commission an enviro report. This should higlight if there is any known flood risk. If so, more detailed inquiries should be carried out.
2 months have elapsed following my purchase conveyancing in Wavertree concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Wavertree is where the house is located. Can you shed any light on this issue?
Flying freeholds in Wavertree are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wavertree you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wavertree may decide 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.
My husband and I are new on the property ladder - agreed a price, but the estate agent advised that the owners will only issue a contract if we use the agent's chosen solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Wavertree
It is unlikely the owners are behind this. Should the seller desire ‘a quick sale', taking such a hostile approach to a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are motivated purchasers (b)you are ready to progress, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you are going to appoint your preferred Wavertree conveyancing firm - not the ones that will provide their estate agent a kickback or meet his conveyancing targets pre-set by head office.