I am nearing exchange of contracts for my ground floor flat in Mawsley and the estate agent has just e-mailed to advise that the buyers are appointing a new property lawyer. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only engage with certain lawyers rather the firm that they want to choose to handle their conveyancing in Mawsley ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies justify this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some 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.
Would the conveyancing practitioners identified via your search tool carry out auction conveyancing in Mawsley?
There are a number of niche solicitors we can connect you with those who can conduct auction conveyancing. Mawsley is one of the many locations in which our lawyers cover.
Please explain the implications if my lawyer’s firm is suspended from the Coventry BS Conveyancing panel ahead of completing my conveyancing in Mawsley?
First, 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.
My wife and I have arranged a further advance on our mortgage from Nationwide as we intend to conduct improvements to our property in Mawsley. Do we need to select a bricks and mortar Mawsley solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide would not normally instruct firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide conveyancing panel.
Last month we had a mortgage agreed in principle with Yorkshire BS. Mawsley conveyancing solicitors have been chosen. How long does it take for Yorkshire BS to send the offer to the conveyancer?
There is no definitive answer here. Have Yorkshire BS conducted the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
After shopping around on the internet I have found a Mawsley conveyancing practitioner having made sure 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 Mawsley 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.
Are there any apps to help search for a Mawsley solicitor on the Barclays conveyancing panel? I have a car and am happy to travel upto 20kilometers to meet the conveyancer.
You can use the facility on this website. Please pick a bank and your location and you will see a number of Mawsley conveyancing lawyers locally. We have listed some Mawsley conveyancing firms towards the end of this page and you can telephone them to see if they are on the Barclays member panel
What are my options where I am dissatisfied with the conveyancer who conducted our conveyancing in Mawsley?
We live in an imperfect world, and is is a fact of life that sometimes things do go wrong. Nevertheless there is recourse if you were dissatisfied with your conveyancing in Mawsley. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their governing body. If you remain aggrieved you may consider enlisting the help of the Legal Ombudsman.