Is the fact that my conveyancer in Axbridge is not on my lender's conveyancing panel that there is a problem with the quality of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume 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. Should you be concerned you should simply call the Axbridge conveyancing practice and ask them why they are no longer on the approved list for your lender.
I am acquiring a house mortgage free in Axbridge. I have been living for the previous twelve years in Axbridge. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road very well must I have all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Axbridge conveyancing searches are non-obligatory. Your lawyer will try and steer you, perhaps strongly, that you should have searches done, but she has a professional duty to take that path of advice. One thing to take into account; if you are intend to sell the house one day, it may be of relevance to your prospective purchaser what the searches reveal. There are plenty of instances where premises with functional issues can still reveal unexpected search results. A good conveyancing solicitor in Axbridge will provide you some constructive guidance in this regard.
I had intended to instruct a conveyancing solicitor in Axbridge for our house purchase. Our broker has since advised us that our bank Alliance & Leicester won't deal with them. Surely this is unduly restrictive?
A mortgage company may direct that an approved solicitor act for it. Borrowers are expected to meet the cost of this. Try using our search facility to select a solicitor to carry conveyancing in Axbridge on the Alliance & Leicester approved list of solicitors.
Should our conveyancer be making enquiries concerning flooding as part of the conveyancing in Axbridge.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Axbridge. Plenty of people will acquire a property in Axbridge, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or by their conveyancers which should give them a better appreciation of the risks in Axbridge. The standard property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to find out whether the premises has historically flooded. In the event that the property has been flooded in past and is not notified by the vendor, then a buyer could bring a compensation claim as a result of such an misleading response. The purchaser’s solicitors should also order an environmental search. This should indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be conducted.
How does conveyancing in Axbridge differ for newly converted properties?
Most buyers of new build residence in Axbridge contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Axbridge usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Axbridge or who has acted in the same development.