I am one month into the sale of my home in Cilcain and the estate agent has just e-mailed to say that the buyers are appointing a new solicitor. I am told that this is due to the fact 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 specific law firms rather the firm that they want to appoint to handle their conveyancing in Cilcain ?
Lenders 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 considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders justify this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened 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 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 not going to have any sway in the decision.
We were just about to sign contracts for a ground floor flat in Cilcain. We encountered a stumbling block. Our loan offer with Coventry Building Society runs out on 19/8/2025 but the vendors are insisting on a completion date of 21/8/2025. Can one prolong the mortgage expiry date?
The best person to address this question is your solicitors who should assess whether he or she is better off negotiating with the mortgage broker, vendor’s lawyers, selling agents or conceivably all three based on what has happend in your conveyancing to date.
We are looking to buy a property and need a conveyancing solicitor in Cilcain 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 Cilcain.
We're in Cilcain, FTBs buying with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Various internet forums that I have visited warn that are the primary reason for delay in Cilcain conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Cilcain.
I opted to have a survey carried out on a property in Cilcain before appointing lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks will not give a mortgage on such a house.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you contact us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cilcain. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cilcain to see if the conveyancing will be more expensive.