Is the fact that my solicitor in Buckingham is not listed on my lender's solicitor panel that there is a problem with the standard of his work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly 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) 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 Buckingham conveyancing firm and enquire why they are no longer on the approved list for your lender.
It is a dozen years since I purchased my home in Buckingham. Conveyancing solicitors have now been instructed on the sale but I can't track down my title documents. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be with the lender or they could stored with the solicitor who oversaw your purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Nearly all conveyancing in Buckingham involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
Please explain the implications if my solicitor is suspended from the Kent Reliance Conveyancing panel ahead of completing my conveyancing in Buckingham?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
If you had a top tip for choosing a conveyancing solicitor in Buckingham what would it be?
We would encourage you not to base your choice on the lowest Buckingham conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Buckingham?
There are many registered licenced Conveyancers in Buckingham and Solicitor practices in Buckingham to choose from It is important to make clear that both are regulated professionals specialising in the legal work in transferring property. They may both also handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I recently had an offer agreed on a house in Buckingham. My mortgage broker recommended their conveyancers. I paid an upfront payment of £175. A few days later, the property lawyer called me sheepishly admitting that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Buckingham I like with open areas and station nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Buckingham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.