I am not in a position to travel far from Clapham and Salph End. What is the rationale as to why all Clapham and Salph End conveyancing practitioners aren't included on all bank panels?
Before the recession most mortgage companies had an attitude to risk which is different than today. The financial regulator in 2010 conducted a thematic review into fraud which concluded: know the lawyers on your panel. Consequently, lenders have since looked to extract more data from law firms concerning their processes and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Thousands of law practices have been excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum amount of transactions the lenders required.
My husband and I are buying a brand new duplex in Clapham and Salph End and my lawyer is telling me that she has to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My husband and I are buying a 2 bedroom apartment in Clapham and Salph End with a residential mortgage from TSB.We use our Clapham and Salph End conveyancing solicitor but TSB advised that she’s not on their approved list of firms. It seems we are left with little choice but to instruct a TSB panel lawyer or retain our local solicitor and fork out for a TSB panel lawyer to act for them. This seems very unfair; Can we not simply insist that TSB use our lawyer?
No, not really. The loan issued to you is subject to its various provisions, one of which will be that lawyers must be on the TSB approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for TSB
Are there restrictive covenants that are commonly picked up as part of conveyancing in Clapham and Salph End?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Clapham and Salph End. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm converting the mortgage on my current house to a buy to let loan with Godiva Mortgages Ltd and intend to use the remaining equity as a deposit on another house. The location we are looking at is Clapham and Salph End. Will your lawyers be able to act for the two mortgage companies and tie in the two deals?
Make use of our comparison tool on this page to be sure that the solicitors are approved by both lenders. Having checked that they are your conveyancer should be able to connect the two conveyancing matters but you should talk with you conveyancer and make apparent your desired outcome and needs.
I need to instruct a conveyancing lawyer in Clapham and Salph End for my sale. Is there any facility to see a firm’s record with the legal regulator?
Members of the public can see presented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator may monitor call for training purposes.