Can you clarify what the consequences are if my solicitor is removed from the Coventry BS Solicitor panel ahead of completing my conveyancing in Edwinstowe?
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.
Is it correct that all Edwinstowe CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing panel?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I was told three weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Edwinstowe is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
Bank of Ireland have agreed my home loan in principle, my bid on a house in Edwinstowe has been agreed to, now what?
Your estate agent will wish to be informed of your property lawyer's details (ensure that the conveyancers are on the bank’s panel). Contact Bank of Ireland or the broker and complete any outstanding forms. Bank of Ireland will sellect a valuer who will get in contact with the selling agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Bank of Ireland will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Edwinstowe.
I have been told that property searches are a common reason for stalling in Edwinstowe conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Edwinstowe.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Edwinstowe I like with a park and station nearby, however it's only got 61 remaining years left on the lease. There is not much else in Edwinstowe suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the shortness of the lease may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
We are 18 days into a freehold purchase having been recommend to a firm by the estate agent to handle our conveyancing in Edwinstowe. I am not happy. Can you you assist me in finding new conveyancers?
They would need to be really bad to suggest replacing them. Has your mortgage offer been generated? If so you will need to make them aware of the new solicitor and have the offer are re-sent. Your new solicitor ideally needs to be on the banks approved list to avoid added costs and complications. That should be your first question of the new lawyers. Our find a solicitor tool should assist you in finding a bank approved solicitor for your conveyancing in Edwinstowe