Am I correct in assuming that the fact that my solicitor in Malden is not identified on my bank's conveyancing panel that there is a problem with the standard of his work?

It would be unwise to jump to that conclusion. There are plenty of plausible 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) 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. Where you are concerned you should simply call the Malden conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.

Are all Malden Conveyancing Quality Solicitors on the Yorkshire BS conveyancing list of approved practices?

Some major banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.

I was told four weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Malden is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.

Our offer on a house in Malden has been agreed to, but there is a chain. The vendors have placed an offer on on an apartment, but it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have instructed a nearby conveyancing solicitor in Malden. What should be my next step? When should I get the mortgage application with Kent Reliance going?

It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Malden conveyancing search charges, etc). First, you should ensure that your solicitor is on the Kent Reliance conveyancing panel. As to the subsequent stages this very much dictated by the circumstances of your case, attraction to this property and on the state of the market. In a buoyant market the majority of buyers would apply for a home loan with Kent Reliance and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with searches.

I have been told that property searches are a common reason for stalling in Malden conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Malden.

In what way does the Landlord & Tenant Act 1954 affect my commercial property in Malden and how can your lawyers assist?

The particular law that you refer to affords security of tenure to business tenants, granting the a statutory right to make a request to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Malden

I own a leasehold flat in Malden. Conveyancing was finalised in 2009. I have heard that I should not allow the lease length get too low. Why is that a problem?

Malden residential long term leases are for a prescribed period - normally ninety nine years when they are first granted. However many flats in Malden were constructed or converted in the 60’s and so these leases now have less than eighty years remaining. That may seem like plenty of time however Banks, Building Societies and other mortgage companies tend to require leases to have at least 75 years unexpired to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are getting close to eighty years. To increase the marketability of your property you should be thinking about whether to extend your lease long before you come to sell it. Please note that there are strong financial reasons to taking action before the lease hits eighty years as when the lease is less than eighty years the amount to be paid to extend starts to escalate.