I am five weeks into the sale of my maisonette in Great Wyrley and the estate agent has just e-mailed to say that the buyers are swapping law firm. The reason given is that the mortgage company will only work with solicitors on their approved list. Why would a major mortgage company only deal with specific solicitors rather the firm that they want to select to handle their conveyancing in Great Wyrley ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders attribute this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to disclose 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 not going to have any impact on this.
Is it realistic for conveyancing in Great Wyrley to be concluded in less than two weeks?
In a situation where you are under pressure to sign contracts it is highly recommended that your solicitor is familiar with the area as they will have local contacts and knowledge. It is even conceivable that they could have conducted previoushouses in the same road. Therefore consider using a Great Wyrley conveyancing lawyer. In addition, check that the lawyer is on the member panel. It is said that 18% of Great Wyrley conveyancing deals are suspended or derailed after finding out that a purchaser’s lawyer was not on their banks panel. This can often result in the legal transfer of property being delayed by as much as 21 days. It is said that this issue impacts approximately one hundred thousand home sales annually. Most Great Wyrley conveyancing practices can not act for certain mortgage companies so do check at the outset.
As someone not used to the Great Wyrley conveyancing process what is your top tip you can impart concerning the home moving process in Great Wyrley
You may not hear this from too many lawyers but conveyancing in Great Wyrley or throughout Staffordshire is often a confrontational process. Put another way, when it comes to conveyancing there is plenty of opportunity for conflict between you and other parties involved in the ownership transfer. For instance, the vendor, estate agent and sometimes your mortgage company. Selecting a lawyer for your conveyancing in Great Wyrley should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the transaction whose interest is to protect your best interests and to keep you safe.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. You should always trust your conveyancer above all other players in the conveyancing process.
I am helping my sister sell her property in Great Wyrley. Will the solicitor commission the energy performance certificate or do I organise this?
Following the abolition of HIPs, energy assessments was maintained a compulsory component of moving house. An energy performance certificate needs to be to hand in advance of the property being marketed. It is not something that solicitors normally arrange. If you are instructing a Great Wyrley conveyancing practitioner they might be willing to arrange energy performance certificates due to their relationships with reputable local providers
I am due to exchange contracts on my flat. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being a right pain. The Great Wyrley solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Great Wyrley is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
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 Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Wolstenholmes several years past for my conveyancing in Great Wyrley. Now, I need the files but the law firm has closed. What do I do?
You should contact 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 Great Wyrley of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
In my capacity as executor for the estate of my aunt I am selling a house in Monmouth but reside in Great Wyrley. My lawyer (based 200 miles from meneeds me to sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Great Wyrley to witness and place their company stamp on the document?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are Great Wyrley based