Am I correct in assuming that the fact that my conveyancer in Mapperley is not identified on my lender's conveyancing panel that there is a problem with the standard of his work?
That is most likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a 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) lack 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 simply call the Mapperley conveyancing practice and enquire why they are no longer on the approved list for your bank.
I am in a contract race with another prospective purchaser for a property in Mapperley. What can I do to expedite matters?
Where you are under pressure to sign contracts it is highly recommended that your conveyancer is familiar with the location as they will benefit local contacts and insight. It is possible that they would have transacted otherproperties in the same neighbourhood. Therefore consider using a Mapperley conveyancing solicitor. Second, be sure that the lawyer is on the on the approved list for your mortgage company. It is said that just under twenty per cent of Mapperley conveyancing transactions are suspended or jeopardised after discovering a purchaser’s conveyancer was not on their banks panel. In many cases this discovery resulted in the transaction being held up by almost 21 days. It is claimed that this issue affects in the region of 100,000 home moves every year. Many Mapperley conveyancing practices can not act for certain mortgage companies so do check at the outset.
I had intended to instruct a property lawyer in Mapperley for our home move. Our broker informed us that our mortgage company Accord Mortgages Ltd won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies ordinarily imposes restrictions either the type or the volume of conveyancing firms on their member panel. A common example of such criteria being that a firm must have two or more partners. In addition to restricting the type of firm, a few lenders have decided to limit the number of solicitor practices they permit to represent them. Be aware that Accord Mortgages Ltd have no responsibility for the quality of advice provided by any member of Accord Mortgages Ltd Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels since 2008 even though there remains mixed views concerning the level of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that plenty of law firms, including some in or near Mapperley only conduct a couple conveyances per annum.
I have justfound out that Stirling Law have closed. They conducted my conveyancing in Mapperley for a purchase of a leasehold flat 12 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Mapperley conveyancing specialists.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Mapperley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Mapperley are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mapperley you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mapperley 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 property.