I am not in a position to travel far from Cricklade. What is the rationale as to why all Cricklade solicitors aren't included on all lender panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to mortgage companies culling less reputable firms from their official list of approved conveyancing practitioners .
We're in Cricklade, FTBs buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I own a terraced Victorian house in Cricklade. Conveyancing practitioner represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the exact same property. Is it worth asking Clydesdale to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cricklade and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing practitioner who conducted the purchase.
I am looking for a leasehold apartment up to £245,000 and identified one near me in Cricklade I like with a park and railway links nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Cricklade suitable, 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 problematic. 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 twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
We're first time buyers - had an offer accepted, yet the property agent has warned us that the vendor will only proceed if we instruct their recommended lawyers as they want a ‘quick sale’. Our preferred option is to instruct a high street solicitor who is accustomed to conveyancing in Cricklade
It is improbable the sellers are behind this. Should the vendor want ‘a quick sale', turning down a serious purchaser is is going to put the whole deal at risk. Try to communicate with the owners directly and make the point that (a)you are keen to buy (b)you are ready to go, with finances arranged © you are chain free (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Cricklade conveyancing firm - rather thanthose that will earn their negotiator at the agency a kickback or achieve conveyancing thresholds pre-set by HQ.