Am I correct in assuming that the fact that my conveyancer in Mayfield is not on my lender's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That would most likely be a wrong assumption to make. There are plenty of plausible 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 contact the Mayfield conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
The Mayfield conveyancing firm handling our Mayfield conveyancing has identified an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
My uncle passed away 10 months ago and as sole heir and executor I was left the property in Mayfield. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then UBS will insist on your using a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
My uncle has recommend that I appoint his lawyers for conveyancing in Mayfield. Do I take his recommendation?
No doubt the ideal way to select a conveyancing practitioner is to seek guidance from friends or relatives who have actually previously instructed the firm that you are considering.
The lawyers conducting our conveyancing in Mayfield has forwarded papers to review that show the property is unregistered with epitome documents. How can it be that the property not yet recorded at HMLR?
Whilst most properties in Mayfield are now registered with HM Land Registry there are still a few that are unregistered. Any property in Mayfield that has been purchased since the late 1980’s will have been registered at the HMLR under the compulsory ‘first registration’ scheme. However, if a Mayfield property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Mayfield conveyancing practitioners will be capable of dealing with such matters but where uncertainty reigns the prevailing guidance these days appears to be for the seller to register it first and subsequently deal with the transfer to the buyer - this no doubt result in a prolonged conveyancing.