Is the fact that my solicitor in Salford is not listed on my bank's solicitor panel that there is a problem with the standard of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a 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) 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 Salford conveyancing firm and enquire why they are no longer on the approved list for your lender.
I am in a contract race with another prospective purchaser for a property in Salford. What can I do to expedite matters?
First, If the seller is applying time constraints to sign contracts it is advisable to make sure that your lawyer is familiar with the area as they will have local relationships and knowledge. It is possible that they may have handled previoushomes in the same street. You would be best advised to use a Salford conveyancing firm. In addition, ensure that the conveyancing firm is on the member panel. It is said that just under twenty per cent of Salford conveyancing deals are suspended or jeopardised after discovering a purchaser’s solicitor was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the legal process being held up by as much as three weeks. It is believed that this issue impacts in the region of one hundred thousand home moves annually. Many Salford conveyancing practices can not act for certain lenders so do check as early as possible.
Do the Building Society Association intend to launch a search tool with a view to list firms on the Earl Shilton BS conveyancing panel for example in Salford?
We are not aware of any intention on the part of the BSA to develop such a tool.
I just acquired a house at auction in Salford. Conveyancing is necessary. What are my next steps?
Now that you are to in every practical sense signed on the dotted line you now have to choose a conveyancing lawyer as a matter of priority as you will have a fast approaching deadline in which to complete the purchase. Every auction property will have a bespoke legal set of papers. This should include evidence of title and search results. If you have purchased leasehold premises the legal pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You need to pass this on to the solicitor working for you ASAP. You also need to ensure that your finances are in place to complete on the date specified in the contract.
A friend pointed out to me me that in purchasing a property in Salford there may be a number of restrictions preventing external alterations to a property. Is this right?
We are aware of a number of properties in Salford which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Salford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Salford building society branch on various occasions and was told it wasn't an issue and they will lend. My Salford conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend in accordance with their specific requirements. I have no idea who is right.
As long as the conveyancer is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Salford differ for newly converted properties?
Most buyers of new build premises in Salford contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Salford typically purchase the site, 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 Salford or who has acted in the same development.