I am nearing exchange of contracts for my ground floor flat in Ashby de la Zouch and the estate agent has just telephoned to say that the buyers are appointing a new property lawyer. The excuse is that the mortgage company will only engage with solicitors on their approved list. On what basis would a leading mortgage company only deal with certain lawyers rather the firm that they want to choose to handle their conveyancing in Ashby de la Zouch ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
The Ashby de la Zouch conveyancing firm handling our Ashby de la Zouch conveyancing has uncovered an inconsistency when comparing the information in the home valuation survey and what is revealed within the conveyancing documents. My lawyer has advised that he must check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Having spent time reviewing online forums for a high-quality solicitor in Ashby de la Zouch, many comment that I should look for a CQS assured solicitor. Can you explain what CQS is?
Ashby de la Zouch Conveyancing Quality Scheme practices have obtained certification under the Law Society's Scheme (CQS) The Law Society created CQS to establish evidence of quality standards in the home buying process. CQS helps buyers and sellers to recognise practices that provide a quality residential conveyancing. Ashby de la Zouch is one of the many areas in England and Wales in which CQS have a presence. The conveyancing scheme requires practices to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Association of British Insurers.
The deeds to our property are lost. The lawyers who conducted the conveyancing in Ashby de la Zouch 10 years ago have long since closed. What are my options?
Assuming you have a registered title the details of your proprietorship will be evidenced by the Land Registry with a Title Number. It is easy to execute a search at the Land Registry, identify your property and secure current copies of the property title for a small fee. If the property is Leasehold then the Land Registry will also normally retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
Am I best advised to choose a Ashby de la Zouch conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can deal with the conveyancing but his firm is located 400kilometers away.
The primary upside of using a local Ashby de la Zouch conveyancing practice is that you can pop in to sign paperwork, deliver your ID and pester them where appropriate. Having local Ashby de la Zouch know how is a plus. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were content that must trump using an unknown Ashby de la Zouch conveyancing lawyer just because they are round the corner.
Can I find out who is the owner of a house in Ashby de la Zouch?
Assuming that the property is registered with HM Land Registry, and you have requisite information of the location of the property, you should be able to obtain details from the the Land Registry of the recorded owner for a fee.