Unfortunately I am unable to travel far from Corston. I would like to know the reason why all Corston lawyers are not on all bank panels?
Pre- 2008 most banks displayed an approach to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into fraud which concluded: know the conveyancing practitioners on your panel. As a result, banks have subsequently looked to extract more data from law firms about their processes and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Thousands of law practices have found themselves removed from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum amount of transactions the lenders set.
The Corston conveyancing lawyers that just started acting on my purchase in Corston have without warning shut down. I only went with them because I needed a firm on the Barclays conveyancing panel and my family Corston lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Is it necessary to take out insurance to cover chancel repairs when buying a house in Corston?
Unless a prior acquisition of the house took place post 12 October 2013 you could assume that solicitors handling conveyancing in Corston to remain encouraging a chancel search and or insurance against a claim.
I decided to have a survey completed on a property in Corston in advance of instructing solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies tend not grant a mortgage on this type of home.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you contact us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Corston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Corston to see if the conveyancing will be more expensive.
My husband and I are a fortnight into a residential purchase having been referred to a firm by the selling agent to execute conveyancing in Corston. I am not happy. Could you you assist me in finding new solicitors?
A solicitor would need to be really poor to suggest diss instructing them. Has your loan offer been issued? If so you will need to advise them of the new contact details and have the offer are re-issued. The conveyancer should be on the mortgage company panel to avoid added expenses and complications. So that should be your starting point. Our find a solicitor tool can help you find a lender approved solicitor for your home move in Corston