Am I correct in assuming that the fact that my conveyancer in Alexandra Park is not identified on my lender's solicitor panel that there is a problem with the standard of his conveyancing?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 76% 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 contact the Alexandra Park conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My wife and I are about to exchange on the purchase of a house in Alexandra Park but as a result of wreckage from the recent storms I have was able negotiate compensation from the seller of £3k by way of a deduction in the price. This was going to be dealt with as part of the conveyancing process however Coventry BS will not agree to this. Why were they approached?
The conveyancer being on a Coventry BS conveyancing panel is required to advise Coventry BS of any variations to the purchase price. If you prohibit your conveyancer to notify the reduction to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new conveyancing practitioner for your conveyancing in Alexandra Park.
I am purchasing a garden flat in Alexandra Park. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Alexandra Park you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Alexandra Park.
My colleague advised me that where I am buying in Alexandra Park I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Alexandra Park conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Alexandra Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Alexandra Park Education with maps and statistics, Local Amenities and other useful information concerning Alexandra Park.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Alexandra Park I like with a park and transport links nearby, however it only has 49 years on the lease. I can't really find anything else in Alexandra Park in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.