Is the fact that my solicitor in Warwick is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 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) low volume 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. Where you are concerned you should simply call the Warwick conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
We wanted to use a property lawyer in Warwick for our home move. Our broker has since notified us that our mortgage lenders The Mortgage Works won't deal with them. Why is this not regarded as unfair competition?
A mortgage company may require a panel solicitor act for it. You would be expected to meet the charges for this. Please make use of our search facility to choose a solicitor to conduct conveyancing in Warwick on the The Mortgage Works approved list of solicitors.
Various internet forums that I have come across warn that are the number one cause of stalling in Warwick conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Warwick.
Are there restrictive covenants that are commonly identified during conveyancing in Warwick?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Warwick. 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…’
I have been on the look out for a flat up to £235,500 and found one near me in Warwick I like with open areas and railway links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Warwick for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property 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 existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.