I am not in a position to travel far from Stocksfield. What is the rationale as to why all Stocksfield property lawyers aren't included on all mortgage company panels?
Banks ordinarily restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a firm needs to have two or more partners. In addition to restricting the type of firm, some banks decided to reduce the size of their panel they permit to represent them. You should note that banks have no accountability for the quality of service provided by any Stocksfield property lawyer on their approved list. Increases in mortgage fraud was the key driver in the culling of conveyancing panels a few years ago even though there are conflicting views about whether solicitors sat at the center of that fraud. Data from the Land Registry indicates that thousands of law practices only transact a couple of conveyances a year. Those advocating conveyancing panel culls question why law firms should have claim to remain on a lender panel when clearly conveyancing is not their speciality?
We're in Stocksfield, First timers buying with a mortgage (lender is Aldermore , and our lawyer is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told that property searches are the number one cause of obstruction in Stocksfield house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Stocksfield.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Stocksfield is the location of the property. Is there any guidance you can give?
Flying freeholds in Stocksfield are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stocksfield you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stocksfield may ascertain 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.
I am 17 days into a residential purchase having been recommend to conveyancers by the high street agent to do our conveyancing in Stocksfield. I am am starting to be disappointed with the quality of service. Could you help me find new solicitors?
A solicitor would have to be very poor in order to consider diss instructing them. Has your loan offer been issued? If so you will need to advise them of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new solicitor ideally should be on the lenders panel to avoid escalating costs and delays. That should be your starting point. The search tool can help you find a bank approved conveyancer for your home move in Stocksfield