Is the fact that my solicitor in Chester le Street is not on my bank's conveyancing panel that there is a problem with the quality of her work?
It would not be wise to jump to that conclusion. There are plenty of reasonable 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) low volume of transactions (2) the lawyer 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 contact the Chester le Street conveyancing practice and ask them why they are no longer on the approved list for your bank.
Please explain the implications if my lawyer’s firm is removed from the Aldermore Solicitor panel ahead of completing my conveyancing in Chester le Street?
The first thing to point out is that, this is very unlikely to happen. 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 at a cost.
Do I need to take out insurance to cover chancel repairs when purchasing a property in Chester le Street?
Unless a previous purchase of the property completed post 12 October 2013 you can expect lawyers carrying out conveyancing in Chester le Street to remain recommending a chancel search and or chancel repair liability insurance.
How does conveyancing in Chester le Street differ for new build properties?
Most buyers of new build residence in Chester le Street come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Chester le Street 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 conveyancing solicitors 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 Chester le Street or who has acted in the same development.
What does commercial conveyancing in Chester le Street cover?
Chester le Street conveyancing for business premises incorporates a wide range of services, given by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.