Is the fact that my solicitor in Badminton is not on my bank's solicitor panel that there is a problem with the standard of his conveyancing?
That is more than likely a wrong assumption to make. There are all sorts of perfectly 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 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. If you are concerned you should simply call the Badminton conveyancing practice and enquire why they are no longer on the approved list for your lender.
My wife and I have lately acquired a property in Badminton. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been carried out as part of conveyancing in Badminton?
The question is not clear as what problems have arisen and if they are relate to conveyancing in Badminton. Conveyancing searches and investigations initiated during the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, a seller fills in a form referred to as a SPIF. If the information turns out to be misleading, then you may have a claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Badminton.
After looking at mumsnet.com for a cheap lawyer in Badminton, many comment that I must use a CQS assured solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's major mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). The scheme does not cover licenced conveyancers. Badminton is one of the many areas of the UK where there are CQS solicitors.
I have been on the look out for a flat up to £245,000 and found one round the corner in Badminton I like with open areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Badminton in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Do I need to be wary about estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a High Street Badminton conveyancing firm?
As with many professional services, often referrals from connections can be worth their weight in gold. Nevertheless there are numerous parties with a keen interest in a conveyancing matter; estate agents, mortgage brokers and lenders may suggest solicitors to use. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but occasionally there may be a commercial relationship behind the endorsement. You have the discretion to choose your own conveyancer. You need to be aware that most lenders specify a panel list of lawyers you are obliged to use for the lender related work in your conveyancing.