Am I correct in assuming that the fact that my solicitor in Pewsey is not identified on my lender's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent 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 lawyer 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 Pewsey conveyancing firm and ask them why they are no longer on the approved list for your bank.
We were just about to sign contracts for a property in Pewsey. We have hit a stumbling block. The mortgage offer with Birmingham Midshires runs out on 13/2/2019 but the owners are insisting on a completion date of 15/2/2019. Is it possible to prolong the mortgage expiry date?
The person best placed to deal with your concern is your conveyancer who is in a position to assess if they should be discussing with the bank, owner’s solicitors, selling agents or indeed all parties given what has gone on in your transaction to date.
We wanted to use a property lawyer in Pewsey for our home move. Our financial adviser has since notified us that our mortgage company Yorkshire Building Society won't deal with them. Why is this not regarded as unfair competition?
A bank can insist on a panel conveyancer act for it. Borrowers are expected to bear the cost of this. Do use our database to locate a solicitor to carry conveyancing in Pewsey on the Yorkshire Building Society conveyancing panel.
This question may be naive but I am new to the home buying as a first time buyer of a ground floor flat in Pewsey. Do I receive the keys to the property on the completion date from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Pewsey?
On the day of completion you will not be required to attend the conveyancers office in Pewsey. Your solicitors will transfer the completion advance to the vendor’s conveyancers, and once they have received this, you should be called to receive the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
Is it correct that all Pewsey CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing list of approved solicitors?
It is true that some lenders now utilise CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I am purchasing a property in Pewsey. A rare aspect is that the roof has a solar panel. Kent Reliance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Kent Reliance your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to Kent Reliance where a lease fails to comply with these conditions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Pewsey.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Pewsey is the location of the property. Can you shed any light on this issue?
Flying freeholds in Pewsey are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Pewsey you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pewsey may determine 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.