I am in the process of selling my flat in Kempston and the EA has just e-mailed to warn that the buyers are swapping conveyancer. I am told that this is due to the fact that the lender will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Kempston ?
Mortgage companies have always had an approved set of law firms they are willing to work with, 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 more than 25 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. 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 unlikely to have any sway in the decision.
We have very pushy sellers who has recommended a lock out contract with a payment 6,000. Are such agreements sensible?
This kind of contract isn't frequently used in Kempston, conveyancers will often sway clients away from them as they detract from focusing on the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. Furthermore, there is no guarantee that just because the proprietor has executed an exclusivity contract they will complete the sale with you. They may breach the agreement if they are offered sufficient incentive to do so because an aggrieved purchaser with the benefit of a exclusivitycontract will still be duty bound to show losses as a consequence of the breach and these may not compare to the financial benefit that your seller may obtain by reneging on the contract, no matter how morally reprehensible the behaviour is.
Can I use your services to recommend a Conveyancing solicitor in Kempston even where I’m not buying or selling a house, for example if I want to acquire a shop in Kempston with a loan from Barclays ?
Our comparison service is predominantly there to locate domestic conveyancing solicitors in Kempston but we have recorded towards the bottom of this page a few Kempston commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they can also act for Barclays
I am looking into buying my first house which is in Kempston and I am already nervous. I couldn't find anything specific about Kempston. Conveyancing will be needed in due course but do you know about the Kempston area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Kempston. In the meantime here are some basic statistics that we found
I need to retain a conveyancing solicitor for purchase conveyancing in Kempston. I've land on a web site which appears to be the ideal answer If it is possible to get all the legals done via email that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My friend mentioned that before choosing a conveyancing firm they must be approved by your bank. It happens to be my first house move but I have an AIP with Halifax and I already have a high street conveyancing lawyer in Kempston at the ready. Can Nat West Bank insist on an approved solicitor to be used? Does a list of panel conveyancers even exist for my conveyancing in Kempston?
You need to instruct a solicitor that is on the Nat West Bank panel. Just call your chosen Kempston conveyancing solicitor to check if they are on the Nat West Bank panel. If they are not on the panel you have a couple of options available to you here:
- Proceed with your preferred Kempston lawyer but Nat West Bank will need to use a lawyer from their approved list. This will result in additional charges together with potential delay.
- Choose a new property lawyer to act in the purchase, not forgetting to check that they are on the Nat West Bank conveyancing panel.
- Convince your property lawyer to do everything possible to get listed on the Nat West Bank conveyancing panel.