Am I correct in assuming that the fact that my solicitor in Walmley is not identified on my bank's solicitor panel that there is a problem with the quality of his conveyancing?
That is more than likely a wrong assumption to make. 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 lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Walmley conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My husband and I are purchasing a newly built flat in Walmley and my lawyer is advising me that she is duty bound to the mortgage company to reveal incentives from the seller. I am nearing the developer’s deadline to sign contracts and I don't want to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have justbeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Walmley for a purchase of a freehold house 12 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Walmley conveyancing specialists.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Walmley I like with open areas and transport links in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Walmley in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
Am I better off to go with a Walmley conveyancing lawyer in close proximity to the house I am hoping to buy? We have a good friend who can carry out the legal work however his firm is located approximately 350kilometers away.
The primary upside of using a local Walmley conveyancing practice is that you can attend the office to execute documents, hand in your ID and pester them where appropriate. They will also have local insight which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were happy that must surpass using an unknown Walmley conveyancing lawyer just because they are local.