Is the fact that my conveyancer in Daventry is not identified on my bank's conveyancing panel that there is a problem with the standard of her conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters 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 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 contact the Daventry conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My fiance and I are hoping to buy a purpose built apartment in Daventry with a homeloan from Halifax.We use our Daventry conveyancing solicitor but Halifax advised that her practice is not on their "panel". It seems we are left with no choice but to instruct a Halifax panel lawyer or retain our preferred solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan issued to you contains terms and conditions, a common one being that conveyancers will be on the Halifax conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Halifax
How does conveyancing in Daventry differ for newly converted properties?
Most buyers of new build or newly converted property in Daventry contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Daventry tend to acquire 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 property lawyers 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 accustomed to new build conveyancing in Daventry or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Daventry is the location of the property. Can you offer any assistance?
Flying freeholds in Daventry are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Daventry you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Daventry may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Estate agents have just been given the go-ahead to market my ground floor apartment in Daventry.Conveyancing solicitors are to be appointed soon but I have recently received a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as usual as all rents and maintenance invoices should be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process