I can't travel far from Kearsley. What is the rationale as to why all Kearsley property lawyers aren't automatically on all bank panels?
A decade ago most mortgage companies had an attitude to risk which differs from the current day. The Financial Services Authority in 2010 instigated a thematic review into fraud which concluded: know the lawyers on your panel. Consequently, lenders have subsequently looked to extract more data from law firms concerning their operations and the staff who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum volume of transactions the lenders required.
We previously instructed conveyancing lawyers with offices in Kearsley on the Lloyds solicitor panel. They are now charging me an additional sum for handling the Lloyds mortgage. Is this an additional conveyancing fee specified by Lloyds?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your conveyancing practitioner can levy a fee for this. This fee is not set by Lloyds but by your Kearsley lawyer. Numerous firms on the Lloyds panel will levy ’dealing with mortgage’ fee and others do not.
Completion of my purchase has taken place for my property in Kearsley. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Kearsley building society branch on various occasions and was reassured it wasn't an issue and they will lend. My Kearsley conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their published requirements. Who do I believe?
Provided that the conveyancer is on the mortgage company panel, she or he must follow the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
three months have elapsed following my purchase conveyancing in Kearsley took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Kearsley differ for new build properties?
Most buyers of new build residence in Kearsley approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Kearsley typically buy 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 conveyancing solicitors 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 used to new build conveyancing in Kearsley or who has acted in the same development.
My father-in-law has urged me to instruct his conveyancers in Kearsley. Should I use them?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to have feedback from friends or relatives who have used the solicitor that you are are thinking of instructing.
Online research suggests that Kearsley solicitors are more costly than licensed conveyancers in Kearsley when it comes to buying a property. So is it better if I use a conveyancer or a solicitor where I am purchasing for my home move in Kearsley.
When it comes to conveyancing in Kearsley the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.