Am I correct in assuming that the fact that my solicitor in Sprowston is not identified on my mortgage company's solicitor panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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. If you are concerned you should contact the Sprowston conveyancing practice and enquire why they are no longer on the approved list for your bank.
I am under pressure from the owner of a property in Sprowston to sign contracts within four weeks. What can I do to expedite matters?
Where the seller is applying a tight deadline for your conveyancing it is highly recommended that your solicitor is familiar with the area as they will benefit local contacts and knowledge. It is possible that they may have conducted otherhomes in the same road. You would be best advised to use a Sprowston conveyancing firm. In addition, double check that the lawyer is on the member panel. It is claimed that 18% of Sprowston conveyancing transactions are suspended or jeopardised after finding out that a buyer’s lawyer was not on their mortgage lender’s list of approved solicitors. This can often result in the buying process being frustrated by as much as 21 days. It is believed that this issue impacts approximately one hundred thousand home moves annually. Almost all Sprowston conveyancing firms can not represent certain lenders so do check at the outset.
It is a dozen years since I bought my house in Sprowston. Conveyancing lawyers have just been instructed on the sale but I can't track down my deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a chance that the deeds will be retained by your lender or they could still be with the conveyancers who acted in your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Almost all conveyancing in Sprowston involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
Have completed on a a detached house in Sprowston , how long will it take for the Land Registry to record the transfer to my name? My Sprowston conveyancing solicitor has been very slow, so I want to be certain the land registry aspects are concluded.
As far as conveyancing in Sprowston registration is no quicker or slower than the rest of the country. Rather than based on location, timeframes can adjust according to the party submitting the application, whether it is in order and whether the Land registry have to notify any third persons or bodies. At present roughly three quarters of submission are completed in less than three weeks but some can be subject to protracted delays. Historically registration occurs after the purchaser is living at the premises thus post completion formalities is not typically primary concern but where there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I am purchasing a new build house in Sprowston with the aid of help to buy. The developers would not move on the price so I negotiated 6k of extras instead. The property agent suggested that I not inform my lawyer about this side-deal as it may put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a house in Sprowston before instructing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some mortgage companies will refuse to issue a loan on such a premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sprowston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sprowston to see if the conveyancing costs will increase in light of this.