Am I correct in assuming that the fact that my conveyancer in Stone is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of reasonable 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 lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Stone conveyancing practice and ask them why they are no longer on the approved list for your bank.
I'm the sole beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Stone. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the property in December. Do I have to wait half a year to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. many banks would take a practical view as this obligation principally exists to pick up on subsales or the quick reselling of property.
My partner and I have arranged the release of further monies on our mortgage from Aldermore as we intend to carry out a loft conversion to our home in Stone. Are we obliged to choose a nearby Stone solicitor on the Aldermore conveyancing panel to handle the paperwork?
Aldermore don't usually require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
My sealed bid on a property in Stone has been accepted, but there is a chain. The sellers have offered on a property, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have instructed a local conveyancing solicitor in Stone. What do I do now? When do I get the mortgage application with Clydesdale started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of one thousand pounds, then valuation, Stone conveyancing search costs, etc). First, you should ensure that your property lawyer is on the Clydesdale conveyancing panel. Regarding the subsequent phase this very much depends on the uniqueness of your case, motivation for the property and on the state of the market. In a rising market some buyers will apply for the mortgage with Clydesdale and pay for the valuation and only if it comes back ok would they pay their lawyer to proceed with the conveyancing in Stone.
My wife and I are intent on selling our home in Stone and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a factory type conveyancing practice rather than a conveyancing solicitor in Stone. We have lived in Stone for many years we know that this is a non issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
How does conveyancing in Stone differ for new build properties?
Most buyers of new build property in Stone contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Stone typically buy the land, 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 accustomed to new build conveyancing in Stone or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Stone I like with open areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. There is not much else in Stone in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign 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 about this matter.