I am nearing exchange of contracts for my flat in Forest of Dean and the estate agent has just e-mailed to say that the purchasers are swapping law firm. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. Why would a major lender only engage with certain law firms rather the firm that they want to choose to handle their conveyancing in Forest of Dean ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal 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 are unaware that 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.
I can see plenty of information on this site about conveyancing in Forest of Dean but can you isolate your top tip for appointing the right conveyancer in Forest of Dean
Do not opt for the lowest Forest of Dean conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I just acquired a flat at auction in Forest of Dean. Conveyancing is necessary. What are my next steps?
Having legally committed yourself to purchase you should retain a conveyancing solicitor soon as you will have a tight a drop dead date to complete the property. Every auction property will have an associated legal set of papers. This will likely include evidence of title and search results. If you have purchased leasehold property the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that your finances are in place to complete on the date specified in the contract.
I was told three weeks ago that my mortgage has been agreed to by Kent Reliance. Is it usual for Kent Reliance to only issue the offer once my solicitor in Forest of Dean is approved on their conveyancing panel? Kent Reliance have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
The deeds to my house are lost. The conveyancers who conducted the conveyancing in Forest of Dean 5 years ago are no longer around. What do I do?
You no longer need to hold title official documentation to establish that you are the owner of your registered land or premises, as the Land Registry hold details of all registered land or property electronically.
I opted to have a survey carried out on a property in Forest of Dean in advance of retaining lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some banks tend not grant a mortgage on this type of house.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Forest of Dean. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Forest of Dean to see if the conveyancing will be more expensive.
Should I be wary about 3rd parties that I am dealing with are recommending an internet conveyancing firm as opposed to a High Street Forest of Dean conveyancing practice?
As is the case with many professional services, often input from relatives can be very helpful. Yet there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest solicitors to use. On occasion these solicitors might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the endorsement. You are at liberty to choose your own lawyer. Don't forget that some mortgage providers operate an approved list of solicitors you have to use for the lender aspect of your home move.
My uncle has recommend that I use his lawyers for conveyancing in Forest of Dean. Should I choose my own solicitor?
Much as we are happy to recommend a Forest of Dean conveyancing lawyer the best way to select a conveyancing lawyer is to have guidance from friends or family who have experience in using the firm you're contemplating using.