Is the fact that my solicitor in Drakes Cross is not identified on my lender's conveyancing panel that there is a problem with the quality of her conveyancing?
That would more than likely be an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Drakes Cross conveyancing practice and ask them why they are no longer on the approved list for your lender.
Some advice if I may. My Drakes Cross solicitor is assuring me that he has toapply for Drakes Cross conveyancing searches asthe firm are on the Santanderapproved lawyer panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Drakes Cross conveyancing searches.
My husband and I are purchasing a 2 bedroom flat in Drakes Cross with a homeloan from Barclays Direct.We like our Drakes Cross conveyancing practitioner but Barclays Direct says her practice is not listed on their approved list of firms. we are left little option but to use a Barclays Direct panel solicitor or retain our high street solicitor and fork out for a Barclays Direct panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan offered to you is subject to its various provisions, one of which will be that conveyancers must be on the Barclays Direct approved list. Until recently, most mortgage companies 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 solicitors to apply to be on the conveyancing panel for Barclays Direct
I have been on the look out for a flat up to £305k and identified one close by in Drakes Cross I like with a park and railway links nearby, however it only has 49 years on the lease. I can't really find anything else in Drakes Cross for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I was recommended by numerous property agents in Drakes Cross to get a quote from a conveyancer on your site. What’s the financial upside for Estate Agents to offer your lawyers over and above alternative conveyancing organisations?
We refuse to give any commission for pointing buyers and sellers in our direction. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am using a search engine for the phrase conveyancing in Drakes Cross it brings up numerous conveyancersin the area. With so much choice what is the best way to find the suitable solicitor for my move?
The best way of choosing a suitable conveyancer is via personal recommendation, so enquire of friends and relatives who have bought a property in Drakes Cross or a local estate agent or mortgage broker. Costs for conveyancing in Drakes Cross vary, so it's advisable to request at least three fee estimates from varying types of law firms. Be sure to obtain confirmation that the charges are assured not to to be inflated.