Unfortunately I am unable to travel far from Peterlee. Is there a reason why all Peterlee solicitors are not on all mortgage company panels?
Before the recession most mortgage companies had an attitude to risk which is different from today. The Financial Services Authority in 2010 carried out a thematic review into property fraud which concluded: know the conveyancing practitioners on your panel. Accordingly, banks have subsequently soughtmore information from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have found themselves removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the criteria of volume of transactions the mortgage companies set.
Last June we completed a house move in Peterlee. We have since encountered a number of problems with the house which we suspect were overlooked in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been ordered as part of conveyancing in Peterlee?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Peterlee. Conveyancing searches and investigations initiated as part of the buying process are supposed to help avoid problems. As part of the process, the vendor answers a form called a SPIF. answers turns out to be incorrect, then you may have a claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Peterlee.
After looking at consumer advice sites for a recommended lawyer in Peterlee, many say that I should look for a CQS accredited lawyer. What is CQS?
Peterlee Conveyancing Quality Scheme solicitors have achieved certification by the law Society CQS was created to promote high standards in the in the legal transfer of properties. CQS enables consumers to recognise practices who provide a quality residential conveyancing. Peterlee is one of the many areas in England and Wales in which CQS are based. The scheme obliges solicitors to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Legal Ombudsman.
Have purchased a a detached house in Peterlee , how long should it take for the Land Registry to record my title? My Peterlee conveyancing solicitor has been very slow, so I want to be sure the registration is addressed.
As far as conveyancing in Peterlee registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether there are errors and whether the Land registry have to notify any third persons or bodies. Currently in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be longer delays. Registration takes place once the purchaser is living at the property so post completion formalities is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
Our lawyer in Peterlee has uncovered a a problem with the lease for the apartment we are purchasing in Peterlee. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank 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 bank 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.