Is the fact that my conveyancer in Westhoughton is not identified on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are plenty of 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 contact the Westhoughton conveyancing practice and ask them why they are no longer on the approved list for your lender.
We are only a couple days away from an exchange on a house in Westhoughton and my parents have sent the exchange deposit to my conveyancer. I am now told that as the deposit has not arrived from me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The solicitor is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Westhoughton. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/12/2018, the requirements read as follows :
I am looking for a ground for flat up to £195,000 and identified one close by in Westhoughton I like with a park and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Westhoughton in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I have been sourcing a conveyancing solicitor in Westhoughton for my house move. Is it possible to see a firm’s record with the profession’s regulator?
Anyone can see documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA may recorded telephone calls for training requirements.