We are purchasing a 3 bedroom apartment in Lees with a mortgage. We would like to retain our Lees conveyancer, however the bank says she’s not on their "panel". It appears that we have little option but to appoint one of the lender panel conveyancing practices or keep our Lees lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to insist that the bank use our Lees conveyancing practitioner ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Lees conveyancing solicitor to apply to be on the conveyancing panel.
Will conveyancers request money up-front for my conveyancing in Lees?
Where you are retaining lawyers for conveyancing in Lees your solicitor will request that you place them with monies to cover the search fees. Normally this is requested to cover the fees of the conveyancing searches. When the deposit is as part of the purchase price then this should be asked for shortly in advance of exchange of contracts. Any further balance that is needed should be sent to your lawyer a couple of days prior to the day of completion.
My lawyer in Lees has never been on on the Santander Solicitor Panel. Can I still continue with my prefered solicitor notwithstanding that they are excluded from the Santander panel?
Your options are as follows:
- Complete the purchase with your preferred Lees lawyers but Santander will need to instruct a conveyancer on their list of acceptable firms. This will result in additional total conveyancing charges and result in frustration.
- Choose a new lawyer to to deal with the purchase, not forgetting to check they are Santander approved.
- Persuade your Santander solicitor to seek to join the Santander panel
My wife and I are buying a property in Lees. I might seem paranoid but how we can trust a conveyancer? At some point we have to deposit money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in Lees. One unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Lloyds your lawyer must check the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and solicitors are required to report to Lloyds where a lease fails to comply with these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Lees.
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Lees is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Have completed on a a terraced house in Lees , What is the estimated time for the Land Registry to record my title? My Lees conveyancing solicitor works at snail pace, so I want to be certain the registration formalities are concluded.
As far as conveyancing in Lees is concerned, registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether it is in order and whether the Land registry need to notify any third parties. At present roughly 80% of such applications are fully dealt with within two weeks but some can be subject to protracted hold-ups. Registration occurs after the new owner has moved in to the property thus 'speed' is not typically top priority yet where there is a degree of urgency associated with the registration then you or your solicitor should speak with the land registry and explain the circumstances.
We're novice buyers - had an offer accepted, but the property agent informed us that the vendor will only go ahead if we use their preferred conveyancers as they need an ‘expedited deal’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in Lees
We suspect that the owner is not behind this requirement. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are serious purchasers (b)you are ready to progress, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Lees conveyancing lawyers - rather thanthose that will earn the estate agent a kickback or achieve conveyancing figures set by corporate headquarters.