Is the fact that my conveyancer in Mountain Ash is not identified on my bank's solicitor 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 plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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. If you are concerned you should simply call the Mountain Ash conveyancing firm and ask them why they are no longer on the approved list for your bank.
We have rather assertive sellers who has insisted on a preliminary contract with a down payment of 5k. Is it wise to enter into such agreements?
This form of agreement is unusual in Mountain Ash, conveyancers will often sway clients away from them as they detract from the primary objective, namely conveyancing and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. Secondly, there is no assurance that just because the owner has entered into an exclusivity agreement they will sell to you. They may be in contravention of the contract if they receive a big enough financial inducement to do so because a wronged claimant with the benefit of a exclusivity agreement will still have to show losses as a consequence of the breach and this may not compare to the financial benefit that your seller may secure by breaking the contract, no matter how morally condemnable the behaviour is.
I have been told that property searches are the number one cause of obstruction in Mountain Ash conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Mountain Ash.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Mountain Ash I like with a park and railway links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Mountain Ash for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. 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 pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I have been informed by numerous friends to expect up to two months for Mountain Ash conveyancing to complete.This was a month ago. The property information was only received from the vendors conveyancing practitioner last week so now does it countdown?
There is no official timeframe for conveyancing in Mountain Ash, or any area in the UK. You simply have to ensure that your finances are in place and in due course the rest will come to you eventually.