I am selling my ground floor flat in Northallerton and the estate agent has just telephoned to say that the purchasers are swapping conveyancer. I am told that this is due to the fact that the bank will only work with solicitors on their approved list. Why would a leading mortgage company only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Northallerton ?
Mortgage companies have always had an approved set of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks justify this action to a rise in fraud as the reason 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 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. The buyers are not going to have any sway in the decision.
Would the conveyancing lawyers highlighted through your search app carry out right to buy conveyancing in Northallerton?
We do have plenty of conveyancing specialists carrying out right to buy conveyancing Please get in touch with us with a view to obtain a costs calculation.
Do all mortgage companies provide you with an approved list of Northallerton conveyancing solicitors? How do you know who is on the Lloyds conveyancing panel?
Northallerton conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
We wanted to use a property lawyer in Northallerton for our home move. Our financial adviser has since advised us that our mortgage lenders Halifax won't deal with them. Why is this not regarded as unfair competition?
A bank may direct that an approved conveyancer act for it. Borrowers are liable to meet the cost of this. Try using our database to choose a solicitor to carry conveyancing in Northallerton on the Halifax approved list of solicitors.
Me and my brother own a renovated Edwardian house in Northallerton. Conveyancing practitioner acted for me and The Royal Bank of Scotland. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Northallerton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing lawyer who carried out the work.
I'm converting the mortgage on my primary property to a buy to let mortgage with Lloyds TSB Bank and intend to use the remaining equity as a down payment on another property. The neighborhood we are interested in is Northallerton. Will your conveyancers be able to act for the two mortgage companies and tie in the two deals?
Make use of our comparison tool on this page to ensure that the conveyancers are on the appropriate lender panels. Assuming that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you lawyer and communicate your desired outcome and requirements.