I am selling my house in Berkshire and the EA has just e-mailed to warn that the buyers are switching solicitor. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a big named lender only engage with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Berkshire ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lending institutions attribute this action to a rise in fraud by way of justification for the pruning – 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 claims that it is hearing daily from firms 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. The purchasers are unlikely to have any sway in the decision.
Can the conveyancing practitioners listed on your site execute auction conveyancing in Berkshire?
There are a number of niche lawyers we can put you in touch with those who can conduct auction conveyancing. Berkshire is one of hundreds of areas of where our lawyers have offices.
We are purchasing a flat and require a conveyancing solicitor in Berkshire who is on the Virgin Money approved panel. Could you point me in the right direction as regards a 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 Virgin Money . We don't recommend any particular firms conducting conveyancing in Berkshire.
How do I find out if the solicitor handling my conveyancing in Berkshire is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus paying £187.00 plus VAT in further legal costs.
You should take advantage of the search tool on this site. Pick the mortgage company and type ‘Berkshire’ or your location and you will be presented with numerous conveyancers located in Berkshire or near you.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Berkshire?
There are many recorded licenced Conveyancers in Berkshire and Solicitor firms in Berkshire offering conveyancing We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. Both can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I just acquired a flat at auction in Berkshire. Conveyancing is needed. What happens now?
Now that you have exchanged you now have to choose a conveyancing lawyer as a matter of urgency as you now have a pending deadline in which to complete the deal. Every auction property will have an associated legal pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You need to hand this to the solicitor instructed by you as soon as possible. Do make sure that your finances are in place to complete the transaction on the set completion date.
Does a directory service exist listing RBS panel solicitors in Berkshire on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings open the public on the web. Where you are seeking to appoint a Berkshire conveyancing practitioner on the RBS please use our tool.
How does conveyancing in Berkshire differ for new build properties?
Most buyers of new build residence in Berkshire come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Berkshire typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Berkshire or who has acted in the same development.