Is the fact that my solicitor in Colliers Wood is not identified on my bank's conveyancing panel that there is a problem with the quality of her work?
That is more than likely 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 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 Colliers Wood conveyancing practice and enquire why they are no longer on the approved list for your lender.
I have given 2 months notice to my existing landlord and have to be out of my let out property in Colliers Wood by the end of next month. Conveyancing on my purchase is underway. Can I complete in a couple of weeks as I wish to avoid having to move into temporary accommodation?
The normal practice is not to provide notice on a rental until you have exchanged. If you have not previously done so, speak to your solicitor and request that they chase the owners side, try to a target completion date that everyone will work to achieve
Please explain the implications if my lawyer’s firm is removed from the Nationwide Solicitor panel ahead of completing my conveyancing in Colliers Wood?
The first thing to point out is that, 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 at a cost.
I am looking for a leasehold apartment up to £195,000 and found one near me in Colliers Wood I like with amenity areas and station nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Colliers Wood for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
We have been informed by various estate agents to expect up to two months for Colliers Wood conveyancing to complete.This was 3 ago. The draft contract was only received from the vendors solicitor last week so now does it countdown?
There is no definitive time frame for conveyancing in Colliers Wood. Conveyancing is subject to many variable. Colliers Wood conveyancing searches alone may take some weeks to come back.