I can't travel far from Badminton. Please explain the reason why all Badminton solicitors are not on all bank panels?
A decade ago most banks displayed an approach to risk which is different from today. The Financial Services Authority in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the solicitors on your panel. As a result, lenders have since looked to extract more information from law firms concerning their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have found themselves removed from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders set.
Finally the sale completed on my house in Badminton last June yet the purchaser is calling daily to moan that his lawyer needs to hear from myconveyancer. What should my lawyer have done following completion?
After completion of your sale your solicitor is committed to send the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where relevant, your lawyer should also confirm that the mortgage has been paid off to the buyers solicitors. There are no post completion tasks just for conveyancing in Badminton.
My friend recommended that where I am buying in Badminton I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Badminton conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Badminton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Badminton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Badminton.
How does conveyancing in Badminton differ for new build properties?
Most buyers of new build property in Badminton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because house builders in Badminton typically purchase 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 accustomed to new build conveyancing in Badminton or who has acted in the same development.
Is it true that a Badminton conveyancing company has court proceedings brought against them by clients for failing to conduct the right conveyancing investigations?
We are not aware of such a Badminton conveyancing claim but according to a recent report, clients buying a house elsewhere in England successfully won a claim against their conveyancing practitioner due to development plans to construct a wind farm not being picked up in conveyancing searches.
If you are buying in Badminton It is important that your lawyer conduct all Badminton conveyancing searches necessary to ensure you have accurate and up to date information ahead of acquiring a property.