Am I correct in assuming that the fact that my solicitor in Fulham is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed 76% 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 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 contact the Fulham conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
The Fulham conveyancing firm that I appointed last week on my house acquisition in Fulham have without warning closed. They were on acting for me because I had to have a solicitor on the Co-operative conveyancing panel and my family Fulham lawyer was not. I paid them £170 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
We are getting the release of further funds on our home loan from Nationwide as we wish to carry out alterations to our house in Fulham. Do we need to choose a nearby Fulham solicitor on the Nationwide conveyancing panel to handle the paperwork?
Nationwide don't usually appoint firms on their conveyancing panel 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 Nationwide list.
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 into my local Fulham building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Fulham conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. I have no idea who is right.
Provided that the conveyancer is on the lender approved list, she or he must adhere to the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Fulham solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Fulham postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in Fulham.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Fulham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Fulham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
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At this site get a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Fulham. As opposed to estate agents and brokerage sites we do not operate referral arrangements with solicitors. Some agents and online brokers 'recommend' solicitors who pay the highest commission, rather than the best value conveyancing in Fulham