Is the fact that my solicitor in Northam is not listed on my mortgage company's solicitor panel that there is a problem with the standard of her work?
It would not be wise 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 most common reasons for removal are: (1) low volume 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. Should you be concerned you should contact the Northam conveyancing practice and enquire why they are no longer on the approved list for your bank.
The Northam conveyancing firm handling our Northam conveyancing has discovered an inconsistency between the information in the home valuation survey and what is revealed within the conveyancing documents. My lawyer says that he needs to check that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions 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 wife and I are buying a flat in Northam. I might seem paranoid but how we can trust a lawyer? On completion day we will need to deposit our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the only beneficiary of my late father’s will and I have everything in my name now, including the house in Northam. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I do know about the CML six month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the house in June. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. many banks would take a pragmatic view as this requirement chiefly exists to pick up on subsales or the wholesaling and assigning of property.
I recently had an offer agreed on a house in Northam. My mortgage broker suggested a lawyer. I paid an upfront payment of £225. Shortly after, the conveyancer contacted me embarrassingly acknowledging that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
What will a local search tell me regarding the property I am purchasing in Northam?
Northam conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search is essential in every Northam conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search should provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Northam is the location of the property. What do you suggest?
Flying freeholds in Northam are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Northam you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Northam may decide 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 premises.