Is the fact that my conveyancer in North Somerset is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable 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 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 North Somerset conveyancing firm and ask them why they are no longer on the approved list for your bank.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in North Somerset. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 23/9/2021, the requirements read as follows :
I have been told that property searches are a common reason for delay in North Somerset conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in North Somerset.
I used Action Conveyancing several years ago for my conveyancing in North Somerset. Now, I need the files however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in North Somerset of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in North Somerset differ for new build properties?
Most buyers of new build residence in North Somerset contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in North Somerset tend to acquire the real estate, 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 used to new build conveyancing in North Somerset or who has acted in the same development.