I can't travel far from Curdworth. Can you please spell out why all Curdworth conveyancing practitioners are not on all bank panels?
Pre- 2008 most banks had an approach to risk which is different than today. The financial regulator in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the solicitors on your panel. As a result, mortgage companies have subsequently soughtmore information from law firms regarding their operations and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum volume of transactions the lenders insisted on.
Due to complete my purchase in Curdworth next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in Curdworth.
It is a dozen years since I bought my property in Curdworth. Conveyancing solicitors have just been retained on the sale but I am unable to find my title documents. Is this a problem?
Don’t worry too much. First there is a chance that the deeds will be with your lender or they could be archived with the conveyancers who acted in your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Almost all conveyancing in Curdworth relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
My brother-in-law has suggested I instruct a conveyancing solicitor in Curdworth. I need to find out if they are on the Coventry Building Society conveyancing panel. Can you assist?
You should call the lawyer and enquire whether they are on the lender panel. Alternatively you should call Coventry Building Society who may be able to assist.
We are purchasing a flat in Curdworth. It might be a silly question but how we can trust a solicitor? At some point we will need to deposit funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as Lloyds, do Curdworth conveyancing practitioners face a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Completion of my purchase has taken place for my property in Curdworth. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Can you refer me to a conveyancing practitioner for purchasing a bungalow? Ideally someone in the Curdworth area, who will contact me via email - not someone who insists on a letter in the post or fax.
LenderPanel.com is limited to being a directory service for conveyancers who wish to be listed as being on the approved conveyancing panel for Barclays in certain areas such as Curdworth . We dont recommend any specific property lawyer.