I am in the process of selling my home in Mersea Island and the estate agent has just telephoned to advise that the purchasers are switching conveyancer. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named lender only work with certain law firms rather the firm that they want to choose for their conveyancing in Mersea Island ?
Banks have always had panels of law firms that can act for them, but in the last few 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.
Mortgage companies blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. 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 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 impact on this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Mersea Island? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Client Care letter that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you are unwilling to provide ID verification documents, your solicitor can not take you on as a client.
What is the difference between a licensed conveyancer and conveyancing solicitor in Mersea Island
There are two types of lawyers who can conduct conveyancing in Mersea Island namely CLC regulated conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the sale or purchase of property. They are both required to execute Mersea Island conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be properly conducted and that all necessary procedures will be correctly taken.
Completion of my purchase has taken place for my property in Mersea Island. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel 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.
I have instructed a Mersea Island solicitor having checked that they are on the HSBC conveyancing panel. Does my lawyer arrange the survey of the property?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC 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 Mersea Island 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 am looking to sell my home. My past lawyers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Mersea Island if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Mersea Island. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
In my capacity as executor for the estate of my father I am disposing of a property in Neath but reside in Mersea Island. My lawyer (approximately 260 kilometers from mehas requested that I sign a statutory declaration prior to completion. Could you suggest a conveyancing practitioner in Mersea Island who can attest this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Mersea Island based
Our solicitor in Mersea Island has uncovered a a problem with the lease for the apartment we are buying in Mersea Island. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.