I am selling my flat in Llansamlet and the EA has just telephoned to advise that the purchasers are changing their solicitor. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only work with certain law firms rather the firm that they want to select for their conveyancing in Llansamlet ?
UK lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say 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. Plenty of firms 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 sway in the decision.
The Llansamlet conveyancing solicitors that I recently instructed on my purchase in Llansamlet have suddenly closed. They were on acting for me because I needed a solicitor on the Yorkshire BS conveyancing panel and my previous Llansamlet lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Is it correct that all Llansamlet CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
A selection of lenders now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
We were going to get a OIP from Co-operative this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Llansamlet solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Llansamlet solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
I have instructed a Llansamlet conveyancer having checked that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Llansamlet surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I used Arc property Solicitors several years ago for my conveyancing in Llansamlet. Now, I need the documents however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Llansamlet of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Llansamlet differ for new build properties?
Most buyers of new build property in Llansamlet contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Llansamlet tend to buy the land, 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 Llansamlet or who has acted in the same development.
Would local authority consent be needed to split a house into two flats in Llansamlet? This has occurred to a property next door to my house in Llansamlet and was unaware of the conversion until after the works were complete.
Planning permission is required for converting a single dwelling in Llansamlet into flats but possibly not for converting back to single dwelling-house so, in answer to your query, yes,a it is needed.