I am in the process of selling my ground floor flat in Geddington and the estate agent has just telephoned to warn that the buyers are appointing a new solicitor. The reason given is that the bank will only work with property lawyers on their conveyancing panel. Why would a leading mortgage company only deal with certain lawyers rather the firm that they want to select to handle their conveyancing in Geddington ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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. The buyers are unlikely to have any impact on this.
When scouring consumer advice sites for an affordable lawyer in Geddington, most say that I should look for a CQS kitemarked lawyer. What is CQS?
Geddington Conveyancing Quality Scheme law firms have achieved accreditation under the Law Society's Scheme (CQS) CQS was brought about to establish evidence of quality standards in the in the legal transfer of properties. CQS enables house movers to identify practices who provide a quality residential conveyancing. Geddington is one of locations in England and Wales in which CQS have offices. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Association of British Insurers.
If you had a top tip for choosing a conveyancing solicitor in Geddington what would it be?
It would be unwise to be seduced by the cheapest Geddington conveyancing fees. 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.
My solicitor has informed me that missing deeds insurance is needed on my purchase. What is the level of cover for Geddington conveyancing?
The appropriate level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
How can we tell if a Geddington conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Geddington seeking recommendations is a sensible 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 advertising the lowest fees. We would always recommend that you speak with the solicitor carrying out your conveyancing.
Is it necessary to take out insurance to address the risk of chancel repairs when buying a property in Geddington?
Unless a prior purchase of the property took place post 12 October 2013 you could expect lawyers carrying out conveyancing in Geddington to continue to recommend a chancel search and or chancel repair liability policy.
Are there restrictive covenants that are commonly picked up during conveyancing in Geddington?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Geddington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it simple use the search facility to find a conveyancing solicitor in Geddington on the authorised to act for my mortgage?
Step one is to select a bank such as HSBC Bank, Skipton Building Society or Aldermore then type in your location for instance Geddington. Conveyancing practices in Geddington and nationally should be identified.