I am nearing exchange of contracts for my ground floor flat in Putney Vale and the estate agent has just called to advise that the buyers are appointing a new conveyancer. The excuse is that the mortgage company will only work with property lawyers on their approved list. On what basis would a leading mortgage company only deal with certain law firms rather the firm that they want to select for their conveyancing in Putney Vale ?
Banks have always had panels of law firms they are willing to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions blame a rise in fraud as the reason for the pruning – criteria have been stiffened 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 says it is hearing daily from firms 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 unlikely to have any impact on this.
Having sold my house in Putney Vale last May but our buyer keeps whats apping every few hours to say his lawyer needs to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your lawyer is committed to forward the transfer deeds and all additional paperwork to the purchaser's solicitors. Where relevant, your solicitor must also send confirmation that the legal charge in favour of the lender has been discharged to the buyers lawyers. There are no post completion steps peculiar conveyancing in Putney Vale.
Our lender has recommended a law firm on their panel based in Putney Vale but I would rather choose a conveyancing lawyer in Putney Vale or nearer to where I live. Are you able to help?
It is by no means the case that all Putney Vale conveyancing solicitors are on all banks conveyancing panel. Use our search tool to find a Putney Vale conveyancing firm on the on the mortgage company panel.
My conveyancer has informed me that lack of right of way insurance is necessary on my purchase. What is the level of cover for Putney Vale conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
I am buying a property in Putney Vale. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
As your lender is Bank of Ireland your lawyer must comply with the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook includes minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Bank of Ireland where a lease fails to satisfy these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Putney Vale.
I was told two weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Putney Vale is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Putney Vale?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Putney Vale. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What makes your site different to other online quote calculators when it comes to conveyancing in Putney Vale?
At this site receive an accurate costs illustration via a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Putney Vale. Unlike many estate agents and brokerage sites we do not charge firms a fee if you appoint them for your home move in Putney Vale