I am in the process of selling my home in Mortlake and the estate agent has just called to warn that the buyers are appointing a new property lawyer. The reason given is that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only deal with specific lawyers rather the firm that they want to select to handle their conveyancing in Mortlake ?
UK lenders have always had panels of law firms they are content to work with, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say 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 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 buyers are unlikely to have any sway in the decision.
I am hoping to move into my new home in Mortlake next Thursday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not limited to conveyancing in Mortlake.
Are the Mortlake conveyancing solicitors identified as being on the RBS conveyancing panel, together with their details provided by RBS?
Mortlake conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
Just bought a terraced house in Mortlake , What is the estimated time for the Land Registry to record the transfer to my name? My Mortlake conveyancing solicitor works at snail pace, so I want to be certain the registration is dealt with.
There is nothing unique when it comes to conveyancing in Mortlake registration formalities. Rather than based on location, timeframes can vary subject to who lodges the application, whether there are errors and whether the Land registry need to notify any third parties. At present roughly three quarters of such applications are fully addressed within 12 days but some can be subject to protracted hold-ups. Registration takes place once the buyer has moved in to the premises thus registration formalities is not always primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer should contact the land registry and explain the circumstances.
I am downsizing from my home. My past conveyancers has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Mortlake if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Mortlake. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
Am I best advised to use a Mortlake conveyancing solicitor who is local to the property I am buying? An old friend can deal with the legal work however her office is 400miles drive away.
The benefit of a local Mortlake conveyancing firm is that you can pop in to execute documents, present your identification documents and pester them if necessary. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were happy that should outweigh using an unfamiliar Mortlake conveyancing lawyer solely due to them being Mortlake based.