I am selling my ground floor flat in Old Ford and the EA has just e-mailed to advise that the buyers are changing their property lawyer. The excuse is that the lender will only engage with property lawyers on their conveyancing panel. Why would a leading lender only engage with specific solicitors rather the firm that they want to choose for their conveyancing in Old Ford ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders blame a rise in fraud as the reason for the reduction – criteria have been tightened 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 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. The purchasers are not going to have any sway in the decision.
Do I have to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Old Ford so that I can pop in to their offices if required.
As opposed to twenty years ago, the vast majority banks no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to hand over ID documents and there are still manifest benefits to choosing a local ayer, in your situation a conveyancing solicitor in Old Ford.
My partner and I have organised the release of further monies on our mortgage from Principality as we intend to conduct a loft conversion to our home in Old Ford. Do we need to appoint a high street Old Ford solicitor on the Principality conveyancing panel to deal with the legals?
Principality do not ordinarily instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality panel.
The formalities of my purchase has taken place for my property in Old Ford. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Coventry BS have agreed my mortgage in principle, my offer on a house in Old Ford has been agreed to, what happens next?
Your estate agent will wish to know who your solicitors are (ensure that the conveyancers are on the bank’s panel). Telephone Coventry BS or your financial adviser and complete any relevant forms. Coventry BS will appoint a valuer who will get in contact with the estate agent or owners to book a time for the valuation to occur. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. Coventry BS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Old Ford.
Due to the guidance of my in-laws I had a survey completed on a property in Old Ford in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders tend not issue a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Old Ford. Conveyancing will be smoother if you use a solicitor in Old Ford especially if they are familiar with such properties in Old Ford.
What does commercial conveyancing in Old Ford cover?
Commercial conveyancing in Old Ford covers a broad array of services, provided by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I am 14 days into a freehold purchase having been recommend to a firm by the high street agent to perform conveyancing in Old Ford. I am am extremely disappointed with the level of service. Could you you assist me in finding new solicitors?
They would need to be very bad in order to consider replacing them. Has your loan offer been issued? If so you will need to make them aware of the new contact details and ensure the offer are issued to the new lawyers. The conveyancer needs to be on the banks panel to avoid supplemental fees and frustration. So that should be your first question of the new lawyers. Our search tool can assist you in finding a bank approved solicitor for your home move in Old Ford