Am I correct in assuming that the fact that my conveyancer in Teignmouth is not identified on my bank's solicitor panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of 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 solicitor 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 Teignmouth conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
we are a couple who are purchasing a purpose built apartment in Teignmouth with a loan from Britannia.We like our Teignmouth conveyancing solicitor but Britannia advised that he's not listed on their "panel". We have to appoint a Britannia panel lawyer or retain our local solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Britannia use our lawyer?
No, not really. The home loan offered to you contains various provisions, one of which will be that solicitors needs to be on the Britannia approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Britannia
The deeds to our house can not be found. The conveyancers who did the conveyancing in Teignmouth 10 years ago have long since closed. What do I do?
These day there are copies made of almost everything, and your lawyer will know exactly where to find all the appropriate paperwork so you can buy or sell your property without a hitch. If duplicates can’t be found, your lawyer can arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Teignmouth is the location of the property. Is there any advice you can impart?
Flying freeholds in Teignmouth are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Teignmouth you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Teignmouth 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 residence.
My boyfriend is buying a shared ownership flat in Teignmouth. He has received an estimate by the solicitor recommended by the selling agents totaling £1300 . It was fifteen years ago since I sold and purchased a property and the fee was £just under five hundred pounds. Have costs really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Teignmouth searches, land registry fees, etc)