Is the fact that my conveyancer in Rainhill is not on my mortgage company's conveyancing panel that there is a problem with the standard of his work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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. Should you be concerned you should contact the Rainhill conveyancing practice and enquire why they are no longer on the approved list for your lender.
A friend pointed out to me me that in purchasing a property in Rainhill there may be various restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Rainhill which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Rainhill should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We were going to get a OIP from UBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any Rainhill solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Rainhill solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I have decided to exercise my right to buy my property in Rainhill off the council. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
Do I need to be concerned that third parties that I am dealing with are suggesting a web based conveyancing firm as opposed to a local Rainhill conveyancing firm?
As is the case with many service providers, often recommendations from family and friends can be extremely useful or valuable. Nevertheless there are many players in a conveyancing transaction; estate agents, financial adviser and banks may suggest solicitors to retain. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there might be a financial incentive behind the endorsement. You have the right to choose your own conveyancer. Don't forget that most banks operate an approved list of solicitors you must use for the mortgage related work in your house move.
In my capacity as executor for the will of my father I am selling a property in Swansea but live in Rainhill. My solicitor (approximately 300 miles awayneeds me to sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing solicitor in Rainhill who can attest and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are Rainhill based
My step-son is about to join the property ladder, the home loan was agreed last week in principle. After the seller agreed the offer on the house we called the bank to issue the formal offer. I was shocked to learn that mortgage lenders do not accept all conveyancing practitioner, they have to be on a list, is this correct?
Mortgage Companies normally imposes restrictions either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Rainhill conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.