I am one month into the sale of my flat in Fairfield and the estate agent has just telephoned to say that the purchasers are changing their conveyancer. The reason given is that the lender will only engage with solicitors on their approved list. On what basis would a major mortgage company only deal with certain law firms rather the firm that they want to choose to handle their conveyancing in Fairfield ?
Lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to maintain. No lender will say 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. 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. Your purchasers are not going to have any impact on this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Fairfield? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the ID of the person or body they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms of Engagement that you are required to sign should confirm this. Your lender will also require certain documents to be checked. Where you refuse to provide identification documents, your lawyer will not be able to take you on as a client.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Fairfield. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Clydesdale will require that you use a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
Can I be sure that the Fairfield conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Fairfield obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your transaction.
My wife and I have organised the release of further monies on our home loan from TSB as we want to conduct a loft conversion to our house in Fairfield. Do we need to select a bricks and mortar Fairfield solicitor on the TSB conveyancing panel to deal with the paperwork?
TSB don't usually require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB panel.
I am purchasing a property in Fairfield. A rare aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with TSB your lawyer must comply with the formal requirements contained in Part 2 of UK Finance Lenders’ Handbook for TSB. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to TSB where a lease fails to meet these provisions. The requirements relate to the installation of panels on properties nationwide and is not restricted to Fairfield.
The deeds to our home can not be found. The lawyers who dealt with the conveyancing in Fairfield 5 years ago no longer exist. What are my options?
You no longer need to have the physical official documentation to evidence that you are the registered proprietor of land or property, as the Land Registry hold details of all registered land or property electronically.
I note that you have a post code search directory listing firms on the lender conveyancing panel. Do Fairfield conveyancing firms pay you a commission if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Fairfield.