Can you clarify what the consequences are if my solicitor is expelled from the HSBC Solicitor panel ahead of completing my conveyancing in Moor Row?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
If you had a top tip for choosing a conveyancing solicitor in Moor Row what would it be?
We would encourage you not to go for the cheapest Moor Row conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Please help - my lawyer says that defective lease insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Moor Row?
The right level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Santander and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I am expecting a DIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Moor Row solicitors on the Yorkshire BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Moor Row solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I have todaybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Moor Row for a purchase of a leasehold flat 12 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can make 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 Moor Row conveyancing specialists.
Due to the guidance of my in-laws I had a survey completed on a house in Moor Row prior to instructing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders will refuse to give a mortgage on such a home.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you contact us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Moor Row. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Moor Row to see if the conveyancing will be more expensive.
Our conveyancer in Moor Row has discovered a a problem with the lease for the apartment we are buying in Moor Row. The other side have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.