I am progressing with the sale of my home in Lower Morden and the estate agent has just text me to advise that the purchasers are swapping conveyancer. The reason given is that the bank will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Lower Morden ?
UK lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lending institutions attribute this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. 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. Your purchasers are unlikely to have any impact on this.
Our nephew is purchasing a newly built flat in Lower Morden with a home loan from Bank of Ireland. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am the only recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Lower Morden. The Lower Morden property was put into my name in February. I now wish to sell up. I do know about the CML six month 'rule', which means that my proprietorship could be considered the same way as though I had purchased the property in February. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How practical a view banks take of it, depend on the lender as this requirement chiefly exists to pick up on subsales or the wholesaling and assigning of properties.
is it true that all Lower Morden solicitors on the Kent Reliance conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be regulated by the SRA. The majority of lenders do list licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
Completion of my remortgage has taken place for my property in Lower Morden. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that 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.
Are there restrictive covenants that are commonly picked up during conveyancing in Lower Morden?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Lower Morden. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am thinking of appointing a conveyancing practitioner in Lower Morden for my house move. Is there any facility to review a firm’s complaints history with the legal regulator?
Members of the public can see presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after 1 January 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
Is planning consent required to split a house into two flats in Lower Morden? This has occurred to a property next door to my home in Lower Morden and was ignorant of the conversion until it was complete.
Planning Permission yes. Building Regulations yes.