Is the fact that my conveyancer in Balham is not on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly 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 top 5 reasons are as follows: (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 Balham conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
How does conveyancing in Balham differ for newly converted properties?
Most buyers of new build or newly converted property in Balham contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Balham typically buy 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 used to new build conveyancing in Balham or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, chain free conveyancing. Balham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Balham are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Balham you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Balham may decide 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 premises.
Are there any apps to help identify a Balham law firm on the Godiva Mortgages Ltd conveyancing panel? I have a car and am willing to travel upto 25miles to meet the lawyer.
Feel free to make use of the facility on this website. Please pick a bank and your location and you will see a number of Balham conveyancing lawyers based on proximity. We have listed some Balham conveyancing firms towards the end of this page and you can telephone them to see if they are on the Godiva Mortgages Ltd member panel
Should I be concerned if there is a problem with one of the searches for my conveyancing in Balham?
On the whole, the majority of concerns arising from Balham conveyancing search responses can be handled prior to completion or indemnity insurance could possibly be obtained. It is important to remember that even though you may be buying the premises and might be content to live with the search results, your building society or bank may not, and when all said and done the decision rests with them.