Is the fact that my conveyancer in Scotter is not on my mortgage company's conveyancing panel that there is a problem with the standard of her work?
That is most likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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. If you are concerned you should simply call the Scotter conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I am hoping to move into my new home in Scotter next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not unique to conveyancing in Scotter.
Due to the encouragement of my in-laws I had a survey completed on a property in Scotter ahead of appointing solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some lenders will not give a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Scotter. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Scotter to see if the conveyancing costs will increase in light of this.
Should I be suspicious by brokers that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a High Street Scotter conveyancing practice?
As is the case with many service providers, often input from relatives can be extremely useful or valuable. Yet there are many players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all put forward conveyancers to choose. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You have the discretion to select your preferred conveyancer. Don't forget that many lenders specify a panel list of solicitors you are obliged to use for the mortgage aspect of your transaction.
I have today placed an offer on a leasehold flat in Scotter and the broker that we are using suggested his . She quoted £900 excluding VAT and 3rd party costs. Does this sound reasonable?
You should not rely on 1 quote. You should obtain like-for-like quotes for your conveyancing in Scotter. Then pick one that you are comfortable with and crucially, is on the approved panel of the lender that you have applied for a mortgage from.