I am in the process of selling my flat in Bromsgrove and the EA has just e-mailed to warn that the buyers are changing their law firm. The excuse is that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only deal with certain law firms rather the firm that they want to choose to handle their conveyancing in Bromsgrove ?
Banks 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 Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions blame a rise in fraud by way of justification for the reduction – criteria have been tightened 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. 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 not going to have any sway in the decision.
We are planning to buy with Coventry BS. I called into a few high street firms but cant to find a Bromsgrove conveyancing firm on the Coventry BS approved list. Please you assist?
Please do take advantage of the search tool on this web page. Pick the building society and type Bromsgrove or your location and you will be presented with numerous conveyancers offices in Bromsgrove or nearest you.
We had chosen solicitors located in Bromsgrove on the UBS solicitor panel. They are now charging me an additional sum for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee set by UBS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner may charge a fee for this. The charge is not set by UBS but by your Bromsgrove property lawyer. Numerous firms on the UBS panel will charge ’dealing with mortgage’ fee and others do not.
We have a mortgage agreed in principle with Lloyds. Bromsgrove conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Lloyds?
There is no definitive answer here. Have Lloyds done the survey? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm in the process of viewing houses in Bromsgrove and I am about to put in an offer. Should I already have a lawyer in place at this point? I am planning to take a home loan with Nottingham.
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are taking out a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
Various online forums that I have visited warn that are the main cause of obstruction in Bromsgrove conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Bromsgrove.
I have todaybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Bromsgrove for a purchase of a leasehold apartment 10 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The easiest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bromsgrove conveyancing specialists.
I'm converting the mortgage on my primary property to a BTL mortgage with HSBC Bank and I will use the rest of the raised equity as a down payment on a second property. The neighborhood we are talking about is Bromsgrove. Will your lawyers be able to act for both sets of lenders and tie in the conveyances?
Make use of our search tool on this site to be sure that the lawyers are approved by both banks. Having checked that they are your solicitor should be able to connect the two conveyancing matters but you should have a chat with you lawyer and communicate your expectations and requirements.