Am I correct in assuming that the fact that my conveyancer in Stoke Park is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of his work?
That would most likely be a wrong assumption to make. There are plenty of reasonable explanations. Just recently a 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 solicitor 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 Stoke Park conveyancing firm and enquire why they are no longer on the approved list for your bank.
My husband and I are only a couple days away from an exchange on a flat in Stoke Park and my parents have transferred the exchange deposit to my conveyancer. I am now told that as the deposit has not arrived from me my conveyancer needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is duty bound to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Why is leasehold purchase conveyancing in Stoke Park costs more?
Stoke Park leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Will our solicitor be making enquiries regarding flooding as part of the conveyancing in Stoke Park.
Flooding is a growing risk for conveyancers dealing with homes in Stoke Park. Plenty of people will purchase a property in Stoke Park, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a various checks that may be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Stoke Park. The conventional set of completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to discover whether the property has historically flooded. If flooding has previously occurred which is not disclosed by the seller, then a purchaser could issue a legal claim for losses as a result of such an misleading response. A buyer’s solicitors may also carry out an enviro report. This will indicate whether there is any known flood risk. If so, further investigations should be made.
We are soon to buying a home in Stoke Park. Can our conveyancer have our purchase price confidential from sites such as Zoopla. How do I make sure this is not revealed?
HM Land Registry by statute are bound to reveal price paid data on a register of the title for domestic properties countrywide which includes homes in Stoke Park. The Title Register is a public document, so the Land Registry would be breaking the law if they failed to grant access to the register.
You can make a request of the Land Registry to withhold the price paid data yet the response will be in the negative.