I am 3 weeks into the sale of my ground floor flat in Hockley and the estate agent has just e-mailed to say that the buyers are appointing a new law firm. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Hockley ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal 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 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.
Are you able to recommend a Barclays sanctioned Hockley conveyancing firm that can complete within under 3 weeks? Am I best advised to choose a high street Hockley practice or a national firm?
We can recommend some very good Hockley conveyancing firms. Another option is to visit the main road in Hockley. Approach a couple of firms and request to see a conveyancing solicitor for a costs illustration. Discuss your deadline together with the reasons and get an assurance on speed. Appoint the lawyer that you trust.
Do I have to pop into the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Hockley so that I can pop in to their offices if necessary.
Nowadays approved lawyers for mortgage companies carry out all of the communications via Royal Mail, internet or over phone calls. This means that they can undertake the conveyancing transaction no matter where you live in England or Wales. However you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
I have been told that property searches are the main reason for delay in Hockley house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Hockley.
How does conveyancing in Hockley differ for new build properties?
Most buyers of new build or newly converted property in Hockley come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Hockley typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Hockley or who has acted in the same development.
How easy is it to switch solicitor as I need to instruct one who is on the Barclays conveyancing list. I instructed a family conveyancing solicitor in Hockley round the corner but the firm is not accepted by Barclays
It would be our pleasure to help you select a conveyancing solicitor in Hockley on the Barclays panel. Please note that the solicitors that we work with do not pay us commission if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Hockley. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Hockley.