Am I correct in assuming that the fact that my solicitor in Solihull is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
That is more than likely a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 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. Should you be concerned you should simply call the Solihull conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
Please explain the implications if my lawyer’s firm is removed from the Nationwide Conveyancing panel ahead of completing my conveyancing in Solihull?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Are there restrictive covenants that are commonly identified during conveyancing in Solihull?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Solihull. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Solihull differ for newly converted properties?
Most buyers of new build premises in Solihull come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Solihull usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Solihull or who has acted in the same development.
I opted to have a survey carried out on a house in Solihull before appointing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some banks may refuse to give a loan on this type of property.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Solihull. Conveyancing will be smoother if you use a solicitor in Solihull especially if they regularly deal with such properties in Solihull.