Am I correct in assuming that the fact that my solicitor in Great Coates is not on my lender's conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly 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 most common reasons for removal are: (1) low volume 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 Great Coates conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
My lawyer in Great Coates has never been on on the Barclays Direct Solicitor Panel. Can I still continue with my family solicitor notwithstanding that they are not on the Barclays Direct panel?
The limited options available to you here include:
- Complete the purchase with your existing Great Coates lawyers but Barclays Direct will need to instruct a lawyer on their list of acceptable firms. This will result in additional total conveyancing charges and cause delays.
- Find a new practitioner to to deal with the purchase, obviously checking they are on the Barclays Direct panel
When it comes to mortgage companies such as Barclays, do Great Coates solicitors incur a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I had a mortgage agreed in principle with Bank of Ireland. Great Coates conveyancing practitioners are chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland done the survey? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My offer on a property in Great Coates has been agreed to, the sellers do nevertheless have an associated purchase. The owners have placed an offer on a flat, but it’s not yet tied up, and are looking at other apartments booked. I have instructed a nearby conveyancing solicitor in Great Coates. What do I do now? At what point do I apply for the mortgage with TSB?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then survey, Great Coates conveyancing search charges, etc). First, you must ensure that your property lawyer is on the TSB approved list. Concerning the subsequent stages this very much dictated by the specifics of your case, attraction to the property and on the state of the market. During a hot market the majority of purchasers will apply for a home loan with TSB and arrange for the valuation and only if it comes back ok would they ask their conveyancer to press on with the conveyancing in Great Coates.
Have purchased a a terraced house in Great Coates , What is the estimated time for the Land Registry to deal with the formalities evidencing my title? My Great Coates conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are addressed.
As far as conveyancing in Great Coates registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can differ depending on who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd persons or bodies. As of today in the region of three quarters of submission are completed within 12 days but some can be subject to protracted delays. Historically registration takes place after the new owner has moved in to the premises so 'speed' is not always top priority but where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Great Coates I like with open areas and transport links nearby, however it's only got 52 remaining years left on the lease. I can't really find anything else in Great Coates for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.