I am five weeks into the sale of my house in Benton and the EA has just telephoned to warn that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the lender will only work with property lawyers on their conveyancing panel. Why would a leading lender only engage with certain law firms rather the firm that they want to choose to handle their conveyancing in Benton ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some 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. Your buyers are unlikely to have any impact on this.
We are buying a property and need a conveyancing solicitor in Benton who is on the RBS approved panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS . We don't recommend any particular firms conducting conveyancing in Benton.
We're in Benton, FTBs purchasing with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
What can a local search reveal regarding the property my wife and I purchasing in Benton?
Benton conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for instance PSG The local search plays an important part in many a Benton conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
The deeds to my property are lost. The lawyers who dealt with the conveyancing in Benton 5 years ago are no longer around. What are my options?
As long as you have a registered title the information relating to your ownership will be evidenced by the Land Registry under a Title Number. It is easy to carry out a search at the Land Registry, identify your house and secure current copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
Am I better off to appoint a Benton conveyancing practitioner in close proximity to the house I am purchasing? An old friend can carry out the conveyancing but they are based 200miles drive away.
The benefit of a local Benton conveyancing practice is that you can visit the firm to sign documents, hand in your ID and apply pressure on them where appropriate. They will also have local intelligence which is a benefit. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and the majority were happy that must surpass using an unfamiliar Benton conveyancing lawyer solely due to them being local.