I can't travel far from Coxhoe. Can you please explain the reason why all Coxhoe conveyancers are not on all lender panels?
Lenders normally restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that the organisation is required to have two or more partners. As well as restricting the structure of firm, some banks such as HSBC made a decision to limit the number of organisations they allow to represent them. You should note that lenders have no responsibility for the standard of advice given by any Coxhoe property lawyer on their panel. Mortgage fraud was the key driver in the culling of conveyancing panels a few years ago notwithstanding that there are conflicting points of view concerning the extent of solicitor involvement in some of that fraud. Data from HMLR reveal that thousands of conveyancing organisations only transact one or two conveyances annually. Those vindicating conveyancing panel cuts ask why law firms deserve claim to be listed on a lender panel when it is apparent that property law is not their primary expertise?
The Coxhoe conveyancing solicitors that just started acting on my house acquisition in Coxhoe have suddenly closed. I only went with them because I needed a firm on the Barclays conveyancing panel and my previous Coxhoe lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
Various internet forums that I have visited warn that are the main cause of stalling in Coxhoe house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Coxhoe.
Due to the input of my in-laws I had a survey completed on a property in Coxhoe prior to instructing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies will refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Coxhoe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Coxhoe to see if the conveyancing will be more expensive.
As co-executor for the estate of my father I am selling a residence in Swansea but live in Coxhoe. My lawyer (who is 235 miles awayhas requested that I sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Coxhoe who can witness this legal document for me?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are based in Coxhoe