I am in the process of selling my home in Bottesford and the estate agent has just called to warn that the buyers are changing their property lawyer. I am told that this is due to the fact that the bank will only work with solicitors on their approved list. On what basis would a leading mortgage company only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Bottesford ?
UK lenders have always had panels of law firms that can act for them, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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 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.
Our god-son is in the process of securing a newly built flat in Bottesford with a home loan from TSB. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the TSB conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As someone not used to the Bottesford conveyancing process what’s the number one tip you can give me for the house moving process in Bottesford
Not many law firms or advisers will tell you this but conveyancing in Bottesford and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there exists an abundance of room for conflict between you and others involved in the legal transfer of property. For example, the vendor, selling agent and even potentially a mortgage company. Choosing a solicitor for your conveyancing in Bottesford an important selection as your conveyancer is your adviser, and is the SOLE person in the process whose interest is to act in 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 your first instinct should be to trust your solicitor above all other parties when it comes to the legal transfer of property.
I am considering applying for a Nationwide mortgage for purchase of a newly converted (under development) in Bottesford with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
There is nothing to stop you using your solicitor, but Nationwide will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bottesford
Two types of professional can perform conveyancing in Bottesford namely licenced conveyancers or solicitors. Both professionals administer conveyancing services that required to complete the disposal or acquisition of property. Both are obliged to carry out Bottesford conveyancing on similar quality and guidelines so you may be safe in the knowledge that your conveyancing will be properly conducted and that the requisite procedures should be correctly adhered to.
Can you point me to a directory of UBS panel conveyancers in Bottesford on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. A small selection of mortgage companies make their panel listings open the public on the web. If you are in need of a Bottesford lawyer on the UBS please use our tool.
I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Bottesford is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Wolstenholmes a few years past for my conveyancing in Bottesford. Now, I need the files however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bottesford of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.