I am one month into the sale of my home in Halstead and the EA has just telephoned to say that the purchasers are appointing a new property lawyer. The reason given is that the bank will only work with property lawyers on their conveyancing panel. On what basis would a leading lender only deal with certain lawyers rather the firm that they want to choose for their conveyancing in Halstead ?
Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks justify this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. 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. The purchasers are not going to have any impact on this.
We are purchasing a newly built apartment in Halstead and my conveyancer is advising me that she is duty bound to the lender to disclose incentives from the builder. I am under pressure to exchange contracts and my preference is not to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We are planning to acquire a flat and require a conveyancing solicitor in Halstead who is on the Lloyds solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Lloyds . We don't recommend any particular firms conducting conveyancing in Halstead.
Have purchased a a semi-detached house in Halstead , What is the estimated time for the Land Registry to deal with the formalities evidencing my title? My Halstead conveyancing solicitor works at snail pace, so I want to be certain the registration is addressed.
There is nothing unique about conveyancing in Halstead registration formalities. As opposed to being determined by geographic area, timescales can vary according to who lodges the application, whether there are errors and whether the Land registry have to notify any interested parties. Currently in the region of three quarters of submission are fully dealt with in less than three weeks but some can be subject to protracted delays. Registration takes place after the purchaser has moved in to the property therefore an expedited registration is not usually top priority but where it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.
We are a couple of weeks into a freehold purchase having been referred to a firm by the selling agent to do our conveyancing in Halstead. I am am extremely disappointed with the quality of service. Could you help me find new conveyancers?
They would have to be very bad to suggest replacing them. Has the mortgage offer been generated? In the event that it has you need to advise them of the new solicitor and ensure the mortgage documents are re-issued. The conveyancer should be on the banks approved list to avoid added costs and delays. That should be your first question of the new solicitors. The find a solicitor tool should assist you in finding a lender approved conveyancer for your conveyancing in Halstead
I need to swap lawyers as my Halstead lawyer is not on the bank's panel of conveyancing solicitors. Is it practical to instruct different lawyers?
In the event that you have not formally appointed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Halstead that you're thinking of instructing.