I am six weeks into the sale of my apartment in Bath and the estate agent has just called to say that the buyers are appointing a new property lawyer. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a major lender only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Bath ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some 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 buyers are not going to have any sway in the decision.
IfI were to purchase a simple residential housein Bath for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Bath?
Any savings you would make would be isolated to the disbursement for searches. The property lawyer still be obliged to do everything else - money laundering, correspond with your sellers property lawyer, SDLT submission, register the title etc. A marginal saving might be made by not having to register a charge however it will not be a lot.
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Bath so that I can attend their offices if required.
Whereas this was necessary ten years ago, most banks no longer oblige their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to provide ID documents and there are still manifest benefits to using a local ayer, in your case a conveyancing solicitor in Bath.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bath
There are two types of lawyers who can perform conveyancing in Bath namely licenced conveyancers or solicitors. Both professionals administer the legal services that required to complete the disposal or purchase of property. Both are required to perform Bath conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be properly conducted and that the requisite procedures should be suitably attended to.
We previously selected conveyancers with offices in Bath on the Nationwide solicitor panel. They are now charging me a further sum for handling the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your property lawyer is entitled to levy a fee for this. This fee is not dictated by Nationwide but by your Bath conveyancer. Some firms on the Nationwide panel will charge ’dealing with mortgage’ fee but some practices include it on their overall fee.
After what seems like an age I have had an offer on a flat in Bath accepted, but there is a chain. The owners have offered on a flat, but it’s not been accepted yet, and have viewings of other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Bath. What do I do now? At what point should I apply for the mortgage with Clydesdale?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of one thousand pounds, then survey, Bath conveyancing search charges, etc). First, you must check that your solicitor is on the Clydesdale approved list. Regarding the subsequent steps this very much dictated by the specifics of your transaction, motivation for the property and on the state of the market. In a buoyant market some home buyers will apply for a home loan with Clydesdale and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to move forward with searches.
How simple is it to switch conveyancer as I need to find a firm on the Bank of Ireland conveyancing list. I instructed a local conveyancing solicitor in Bath five minutes from me but he is not accepted by Bank of Ireland
We will our best to assist in finding you a conveyancing solicitor in Bath on the Bank of Ireland panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Bath. Using the find a conveyancing solicitor tool on this page, you can scrutinise costs for conveyancing solicitors in Bath and beyond.
I have been sourcing a conveyancing practitioner in Bath for my remortgage. Is there any facility to review a firm’s record with the profession’s regulator?
Members of the public may read published Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training requirements.