I am nearing exchange of contracts for my ground floor flat in Dudley and the estate agent has just text me to say that the buyers are appointing a new conveyancer. The reason given is that the lender will only engage with solicitors on their approved list. On what basis would a major lender only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Dudley ?
Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose 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 purchasers are unlikely to have any impact on this.
Our nephew is purchasing a newly built flat in Dudley with a home loan from Santander. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My Conveyancer in Dudley has never been on on the Britannia Approved Panel. Is it possible for me to use my prefered solicitor notwithstanding that they are not on the Britannia approved list?
The limited options available to you here include:
- Carry on with your existing Dudley lawyers but Britannia will need to use a lawyer on their panel. This will result in additional total conveyancing charges and result in frustration.
- Choose a new lawyer to act in the conveyancing, remembering to check they are on the Britannia panel
How does conveyancing in Dudley differ for new build properties?
Most buyers of new build or newly converted property in Dudley contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Dudley tend to acquire the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Dudley or who has acted in the same development.
I am selling my house. My past conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Dudley if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Dudley. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am looking to sell a garage which is on a separate legal title with the land registry and hope to get 20,000 or so, to clear debts. There is a mortgage with Skipton. Is it possible for you to suggest a cheapish conveyancing practitioner as the standard £500-600 eats in the return somewhat. Although I live in Dudley I dont have to instruct a Dudley conveyancer.
LenderPanel.com is restricted to being a directory service for property lawyers who wish to be listed as being on the approved conveyancing panel for Skipton in certain areas such as Dudley . Our intention is not to recommend any particular conveyancing practitioner.