Am I correct in assuming that the fact that my conveyancer in Farnborough is not on my mortgage company's conveyancing panel that there is a problem with the standard of her conveyancing?
That would most likely be an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 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) lack 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 contact the Farnborough conveyancing practice and ask them why they are no longer on the approved list for your bank.
It is is a decade since I acquired my house in Farnborough. Conveyancing solicitors have now been appointed on the sale but I can't locate the deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a possibility that the deeds will be kept by the mortgage company or they may be in the possession of the conveyancers who oversaw the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Farnborough involves registered property but in the rare situation where your property is unregistered it is more problematic but is not insurmountable.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Farnborough. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 10/11/2024, the requirements read as follows :
Can you point me to a directory of Co-operative panel solicitors in Farnborough on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the CML or Building Society Association websites. Very few lenders make their panel listings visible on the web. Where you are seeking to appoint a Farnborough lawyer on the Co-operative please make the most of our facility.
How can we know in advance if a Farnborough conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Farnborough seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your transaction.
We have agreed to purchase a house in Farnborough. One unusual aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Leeds Building Society your lawyer must check the conveyancing instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Leeds Building Society where a lease does not meet these requirements. The provisions relate to the installation of panels on properties nationwide and is not isolated to Farnborough.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Farnborough I like with amenity areas and transport links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Farnborough in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.