I am one month into the sale of my apartment in Bude and the estate agent has just e-mailed to say that the purchasers are changing their law firm. The excuse is that the bank will only engage with property lawyers on their conveyancing panel. Why would a major lender only work with certain solicitors rather the firm that they want to select to handle their conveyancing in Bude ?
Lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. 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 being contacted daily by practices 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 buyers are unlikely to have any impact on this.
We have very assertive vendors who has recommended a lock out contract with a down payment 6,000. Is it wise to enter into such agreements?
Exclusivity agreements are agreements between a property vendor and purchaser giving the buyer exclusive rights to the sale of the property for a certain period of time. Essentially, an exclusivity is a document stating that you should have a contract at a later date being the contract for the actual sale. It is generally utilised for buyer assurance though in some cases, the owner may stand to benefit from such agreements as well. There are numerous positives and negatives to having an agreement but you should to check with your solicitor but note that it may result in costing you extra in conveyancing fees. For these reasons these contracts are not popular when it comes to conveyancing in Bude.
I am considering applying for a Coventry BS mortgage for purchase of a newly converted (under development) in Bude with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Is there a list of Clydesdale panel conveyancers in Bude on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of mortgage companies make their panel listings visible on the web. Where you are looking for a Bude property lawyer on the Clydesdale please use our tool.
Is it the case that all Bude solicitor firms on the Co-operative conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Co-operative approved list of solicitors they would need to be governed by the SRA. The majority of banks do list licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
Completion of my remortgage has taken place for my property in Bude. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Do commercial conveyancing searches reveal planned roadworks that may affect a commercial land in Bude?
Many commercial conveyancing solicitors in Bude will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Bude. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bude.
For every commercial conveyancing transaction in Bude it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Bude commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Bude.
I need to instruct a conveyancing lawyer in Bude for my house move. Can I review a solicitor's complaints history with the profession’s regulator?
You may find presented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training requirements.