Is the fact that my conveyancer in Axminster is not listed on my lender's conveyancing panel that there is a problem with the quality of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent 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) 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. Should you be concerned you should simply call the Axminster conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My son-in-law is purchasing a newly built flat in Axminster with a mortgage from Skipton. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Skipton conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My lawyer in Axminster has never been on on the National Westminster Bank Conveyancing Panel. Is it possible for me to retain my prefered solicitor even though they are excluded from the National Westminster Bank approved list?
The limited options open to you here include:
- Complete the purchase with your preferred Axminster solicitors but National Westminster Bank will need to use a lawyer on their list of acceptable firms. This will inevitably rack up the total conveyancing fees as well as cause delays.
- Choose a new practitioner to to deal with the purchase, not forgetting to check they are National Westminster Bank approved.
- Persuade your National Westminster Bank solicitor to try to join the National Westminster Bank panel
I am looking for a ground for flat up to £245,000 and identified one round the corner in Axminster I like with a park and station nearby, the downside is that it's only got 61 years on the lease. There is not much else in Axminster in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My husband and I are first time buyers - had an offer accepted, but the estate agent advised that the vendor will only go ahead if we appoint their preferred solicitors as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Axminster
We suspect that the owner is unaware of this request. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine buyer is is going to put the whole deal at risk. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you are going to instruct your preferred Axminster conveyancing firm - rather thanthose that will earn the negotiator at the agency a introducer fee or achieve conveyancing figures pre-set by corporate headquarters.