I am progressing with the sale of my maisonette in Maldon and the EA has just called to advise that the buyers are swapping conveyancer. The reason given is that the lender will only deal with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with specific law firms rather the firm that they want to appoint to handle their conveyancing in Maldon ?
Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders point to the increase in fraud by way of justification for the cull – 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 claims that it is being contacted daily by practices that have been removed from panels. Some 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.
My husband and I are purchasing a newly constructed apartment in Maldon and my solicitor is telling me that she is duty bound to the mortgage company to disclose incentives from the seller. I am on a tight deadline to exchange and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
When can the exchange of contracts take place for residential conveyancing in Maldon and do I need to attend the conveyancers office?
Where you are local to our conveyancing solicitors in Maldon you are welcome to come in to sign contracts. However, the firms we work with supply a countrywide conveyancing service and provide as equally comprehensive and professional a job for you when communicating with you by post or email. The executing of the purchase agreement is not the point of no return. Signing on the dotted line is necessary for the solicitor to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Maldon)to be in the office at the appropriate time.
What happens if my lawyer’s firm is expelled from the Aldermore Conveyancing panel ahead of completing my conveyancing in Maldon?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
The deeds to our home are lost. The lawyers who handled the conveyancing in Maldon 5 years ago have long since closed. What are my options?
Gone are the days when you need to hold title original deeds to prove you own the land or premises, given that the Land Registry hold details of all registered land or property electronically.
What makes your site different to alternative online quote calculators for conveyancing in Maldon?
At this site obtain a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Maldon. As opposed to estate agents and many comparison sites we do not have kick-back deals with solicitors. Many agents and online brokers 'recommend' the firm who pay the highest per referral, as opposed to the best value conveyancing in Maldon