I am progressing with the sale of my home in Onslow Village and the EA has just text me to advise that the purchasers are switching solicitor. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only engage with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Onslow Village ?
Mortgage companies have always had panels of law firms that can represent them, but in recent 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 decades.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. 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. Your buyers are not going to have any sway in the decision.
My Onslow Village conveyancer has uncovered an inconsistency when comparing the information in the home valuation report and what is revealed within the legal papers for the property. My solicitor says that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
The Onslow Village conveyancing lawyers that I appointed last week on my house acquisition in Onslow Village have suddenly shut down. I only went with them because I had to have a solicitor on the Yorkshire BS conveyancing panel and my preferred Onslow Village lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
We are purchasing a house and the lawyer has mentioned Chancel Repair to which the property may be obligated to pay given it’s proximity to the area of such a church. She has recommended insurance. Is this strictly appropriate for conveyancing in Onslow Village
Unless a previous acquisition of the premises completed post 12 October 2013 you can expect conveyancing practitioners delivering conveyancing in Onslow Village to continue to suggest a chancel search and or insurance against a claim.
I used Wolstenholmes several years past for my conveyancing in Onslow Village. I now require my file but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Onslow Village of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How do I use the search facility to find a conveyancing solicitor in Onslow Village on the approved list for my mortgage?
Step one is to choose a bank such as National Westminster Bank, Leeds Building Society or Godiva Mortgages Ltd then type in your preferred area e.g. Onslow Village. Conveyancing practices in Onslow Village and nationally will then be shown.