I am progressing with the sale of my apartment in Pinner Green and the estate agent has just called to advise that the purchasers are switching property lawyer. The excuse is that the lender will only work with solicitors on their conveyancing panel. Why would a major mortgage company only work with certain law firms rather the firm that they want to appoint for their conveyancing in Pinner Green ?
Banks have always had an approved set of law firms that can act for them, but in the last few 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 more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal 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. 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. Your buyers are not going to have any sway in the decision.
My Conveyancer in Pinner Green is not listed on the Bank of Scotland Conveyancing Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Bank of Scotland panel?
Your options are as follows:
- Complete the purchase with your existing Pinner Green solicitors but Bank of Scotland will need to instruct a conveyancer on their panel. This will result in additional total legal fees and result in frustration.
- Find a new practitioner to to deal with the conveyancing, obviously checking they are Bank of Scotland approved.
- Persuade your Bank of Scotland based solicitor to attempt to join the Bank of Scotland panel
We are aiming to move house in March. Will my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you suggest a removal company in Pinner Green. Conveyancing firm was chosen prior to coming across this website.
On the day of completion you can pick up the house keys from the selling agent but this can only happen when the sellers conveyancers inform the agent that the monies to complete are in and the keys can be collected. Subsequently you will need to advise the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can assist you in finding a conveyancing in Pinner Green or a lawyer that specialises in conveyancing in Pinner Green.
When it comes to mortgage companies such as Principality, do Pinner Green conveyancers incur a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Our offer on a house in Pinner Green has been agreed to, but there is a chain. The sellers have offered on somewhere, however it’s not yet agreed to, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Pinner Green. What do I do now? At what stage should I apply for the mortgage with Lloyds?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then survey, Pinner Green conveyancing search costs, etc). First, you should check that your lawyer is on the Lloyds conveyancing panel. As to the subsequent steps this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a buoyant market some buyers will apply for the mortgage with Lloyds and arrange for the valuation and only if it was satisfactory would they request their conveyancer to press on with the conveyancing in Pinner Green.
Various internet forums that I have visited warn that are a common reason for obstruction in Pinner Green house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Pinner Green.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, chain free conveyancing. Pinner Green is where the house is located. Can you shed any light on this issue?
Flying freeholds in Pinner Green are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pinner Green you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pinner Green may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing practitioner in Pinner Green for my purchase. Is there any facility to see a firm’s record with the profession’s regulator?
You may find published Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training requirements.