I am progressing with the sale of my home in Coombe and the estate agent has just called to advise that the buyers are appointing a new law firm. The excuse is that the lender will only work with solicitors on their conveyancing panel. Why would a big named lender only engage with specific law firms rather the firm that they want to select for their conveyancing in Coombe ?
Mortgage companies have always had panels of law firms that can act for them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks attribute this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. 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. 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.
My fiance and I intend to purchase a 3 bedroom flat in Coombe with a homeloan from Yorkshire Building Society.We would like to retain our Coombe conveyancing practitioner but Yorkshire Building Society says she’s not listed on their approved list of member firms. We have to appoint a Yorkshire Building Society panel firm or keep our high street solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage issued to you is subject to its various provisions, one of which will be that lawyers will be on the Yorkshire Building Society conveyancing panel. in the past, most banks had large numbers of law firms 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 Yorkshire Building Society
We are purchasing a end of terrace house in Coombe. We would like to carry out an extension to the side at the house.Will the conveyancing process involve checks to determine if these alterations are permitted?
Your solicitor should check the deeds as conveyancing in Coombe can on occasion identify restrictions in the title deeds which prohibit categories of works or require the permission of another owner. Some extensions require local authority planning permissions and approval in compliance with building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
We previously selected conveyancing lawyers based in Coombe on the HSBC solicitor panel. They are now charging me a separate amount for dealing with the HSBC mortgage. Is this a supplemental conveyancing fee set by HSBC?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. The fee is not set by HSBC but by your Coombe property lawyer. Some firms on the HSBC panel will charge ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
I have decided to exercise my right to buy my property in Coombe off the council. I have a mortgage offer with Skipton. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I used Stirling Law a few years ago for my conveyancing in Coombe. Now, I need my documents but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Coombe of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Coombe differ for new build properties?
Most buyers of new build or newly converted property in Coombe contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Coombe typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Coombe or who has acted in the same development.
In surfing the web for the words cheap conveyancing in Coombe it brings up many conveyancersin the area. With so much choice what is the best way to find the right conveyancer for purchase transaction?
The best way of seeking the right conveyancer is via personal recommendation, so ask friends and those you trust who have acquired a property in Coombe or a respected estate agent or mortgage broker. Costs for conveyancing in Coombe differ, so it's a good idea to request at least four costs illustrations from different solicitors. Make sure that you know that the fees are fixed.