I am progressing with the sale of my flat in Bedford Park and the EA has just text me to advise that the purchasers are swapping conveyancer. I am told that this is due to the fact that the lender will only engage with solicitors on their conveyancing panel. On what basis would a leading lender only work with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Bedford Park ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise 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.
My wife and I are buying a newly built apartment in Bedford Park and my conveyancer is telling me that she is duty bound to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to sign contracts and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What is the first thing I need to know concerning purchase conveyancing in Bedford Park?
You may not hear this from too many lawyers but conveyancing in Bedford Park and elsewhere in England and Wales is an adversarial experience. In other words, when it comes to conveyancing there exists plenty of room for friction between you and others involved in the transaction. E.g., the vendor, selling agent and sometimes your bank. Choosing a lawyer for your conveyancing in Bedford Park an important selection as your conveyancer is your adviser, and is the ONE person in the process whose interest is to protect your legal interests and to keep you safe.
There is a distinct ongoing adversarial element to conveyancing- someone must be at fault for the process being so protracted. We recommend that you must always trust your lawyer ahead of all other players in the conveyancing process.
We previously chose conveyancing lawyers locally in Bedford Park on the HSBC solicitor approved list. They have just invoiced me a further sum for handling the HSBC mortgage. Is this a supplemental conveyancing fee set by HSBC?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your property lawyer can charge a fee for this. The fee is not dictated by HSBC but by your Bedford Park conveyancer. Numerous firms on the HSBC panel will charge an ‘acting for lender’ fee and others do not.
I am currently in the process of buying my council flat in Bedford Park. I have a mortgage agreed with Clydesdale. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
Intending to buy a maisonette in Bedford Park. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bedford Park solicitor is on the RBS conveyancing panel.
I am looking for a conveyancing solicitor in Bedford Park for my house move. Can I review a firm’s record with the legal regulator?
One may find presented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA may recorded call for training reasons.
Do I need to visit the offices of the bank conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Bedford Park as it will be easier to attend their offices if required.
Most conveyancing panel lawyers for the lender undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Bedford Park. it would nevertheless be wise to check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.