I am nearing exchange of contracts for my flat in Caistor and the estate agent has just e-mailed to advise that the buyers are appointing a new property lawyer. The excuse is that the mortgage company will only deal with solicitors on their approved list. On what basis would a major lender only work with certain solicitors rather the firm that they want to select to handle their conveyancing in Caistor ?
Lenders have always had panels of law firms they are willing to work with, 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 represented them for many years.
Banks point to the increase in fraud by way of justification 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. Some 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.
Do lawyers request money up-front for my conveyancing in Caistor?
Where you are retaining lawyers for conveyancing in Caistor your lawyer will ask you place them with funds to cover the the cost of the conveyancing searches. Normally this is needed to cover the fees of the Local Authority Search. If any deposit is payable against the purchase price then this will be required shortly prior to exchange of contracts. The closing balance that is needed should be transferred shortly before completion.
The Caistor conveyancing solicitors that I appointed last week on my purchase in Caistor have suddenly shut down. I only went with them because I had to have a lawyer on the Kent Reliance conveyancing panel and my previous Caistor lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I require quick conveyancing in Caistor as I am under a deadline to exchange contracts inside one month. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to have searches conducted although no lawyer would suggest that you don't. With lots of history conveyancing in Caistor the following are instances of issues that can show up and therefore impact future saleability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I am selling my house. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Caistor if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Caistor. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Been searching for a solicitor for freehold sale conveyancing in Caistor. We are selling, simple no mortgage to discharge, no rush, currently vacant. Got a quote from a lawyer for nine hundred pounds including VAT which is a little expensive given that its so straightforward. Can I pay less for conveyancing in Caistor?
Given that it’s a sale only, 475 + VAT is likely to be about the lowest for sale conveyancing in Caistor.