I am nearing exchange of contracts for my home in Eccleston and the EA has just e-mailed to warn that the buyers are switching conveyancer. I am told that this is due to the fact that the bank will only work with property lawyers on their approved list. Why would a leading lender only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Eccleston ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some 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. Your purchasers are unlikely to have any impact on this.
My wife and I are approaching an exchange on a house in Eccleston and my parents have sent the ten percent deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
The conveyancer is legally required to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I had intended to instruct a property lawyer in Eccleston for our house purchase. Our financial adviser has since notified us that our bank Leeds Building Society won't deal with them. Why is this not regarded as unduly restrictive?
A lender may direct that a panel conveyancer act for it. You would be liable to bear the cost of this. Do use our database to get a quote from a solicitor to carry conveyancing in Eccleston on the Leeds Building Society conveyancing panel.
I used Action Conveyancing several years past for my conveyancing in Eccleston. I now require my papers but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Eccleston of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Is it simple use your search tool to find a conveyancing solicitor in Eccleston on the panel for my lender?
1st pick a bank such as National Westminster Bank, Coventry Building Society or Barclays Direct then type in your preferred area a common one being Eccleston. Conveyancing organisations in Eccleston and further afield will then be listed.
I am using a search engine for the term conveyancing in Eccleston it shows results of numerous conveyancersin the vicinity. With so much choice what is the best way to find the right solicitor for the sale of my house?
The best way of finding a suitable conveyancer is through a personal testimonial, so ask friends and relatives who have bought a property in Eccleston or the local estate agent or mortgage broker. Charges for conveyancing in Eccleston vary, so it's sensible to request at least four fee estimates from varying types of companies. Make sure that you know that the costs are guaranteed not to increase.