Am I correct in assuming that the fact that my solicitor in Redcar and Cleveland is not listed on my lender's conveyancing panel that there is a problem with the quality of her work?
That would most likely be an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated 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 solicitor 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 Redcar and Cleveland conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
My wife and I are nearing an exchange on a flat in Redcar and Cleveland and my parents have sent the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has not arrived from me my conveyancer needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your solicitor is obliged to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
What happens if my lawyer’s firm is removed from the Co-operative Solicitor panel ahead of completing my conveyancing in Redcar and Cleveland?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I require expedited conveyancing in Redcar and Cleveland as I am under an ultimatum to complete within 4 weeks. Luckily I do not need a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are are a cash buyer you have the choice not to do searches although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Redcar and Cleveland the following are examples of issues that can crop up and therefore impact the marketability of the property: Enforcement Notices, Overdue Fees, Overdue Grants, Unadopted Roads,...
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Redcar and Cleveland is where the house is located. What do you suggest?
Flying freeholds in Redcar and Cleveland are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Redcar and Cleveland you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Redcar and Cleveland 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.