I am selling my apartment in Glossop and the estate agent has just called to warn that the purchasers are changing their conveyancer. The excuse is that the lender will only work with solicitors on their conveyancing panel. Why would a leading lender only work with specific lawyers rather the firm that they want to choose for their conveyancing in Glossop ?
Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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 buyers are not going to have any impact on this.
We note that you have a search directory listing law firms on the Yorkshire BS conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Glossop?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Glossop.
The Glossop conveyancing lawyers that I appointed last week on my purchase in Glossop have suddenly shut down. I only went with them because I needed a firm on the HSBC conveyancing panel and my previous Glossop lawyer was not. I paid them money on account. What are my options?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Glossop?
Two types of professional can perform conveyancing in Glossop namely CLC regulated conveyancers or solicitors. The two can handle conveyancing services that you need to complete the sale or acquisition of property. Both are required to perform Glossop conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be properly carried out and that all requirements and procedures will be accurately attended to.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Glossop bank branch on various occasions and was told they are content with the situation and they will lend. My Glossop conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
The conveyancer must follow the Council of Mortgage Lenders’ Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Glossop solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Glossop postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Glossop.
I am looking for a ground for flat up to £235,500 and found one near me in Glossop I like with amenity areas and railway links in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Glossop for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How do I search for a Glossop law firm on the Barnsley Building Society conveyancing panel? I am a keen cyclist and am prepared to travel upto 25kilometers to meet the lawyer.
You can use the facility on this website. Please select a lender and your location and you will see a number of Glossop conveyancing lawyers locally. We have listed some Glossop conveyancing firms towards the end of this page and you can contact them to check whether they are on the Barnsley Building Society member panel