I am one month into the sale of my flat in Sale and the estate agent has just e-mailed to warn that the purchasers are switching conveyancer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Sale ?
UK lenders have always had panels of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been tightened 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 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. Your purchasers are unlikely to have any sway in the decision.
We note that you have a post code search directory listing firms on the UBS conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Sale?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Sale.
My uncle passed away last year and as sole heir and executor I was left the property in Sale. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then UBS will require that you use a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
I have been told that property searches are a common cause of delay in Sale house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Sale.
Do I need to be concerned by 3rd parties that I am dealing with are suggesting an internet conveyancing firm as opposed to a High Street Sale conveyancing firm?
As with many service providers, often suggestions from relatives can be extremely useful or valuable. Yet there are numerous players in a conveyancing transaction; estate agents, financial adviser and lenders might all put forward conveyancers to appoint. On occasion the lawyers might be known to one of the organisations as being good in their field, but sometimes there exists a commercial relationship behind the endorsement. You have the right to choose your preferred lawyer. However, bear in mind that many banks have an approved list of law firms you have to use for the mortgage aspect of your home move.
We are a fortnight into a leasehold purchase having been directed to conveyancers by the selling agent to perform conveyancing in Sale. I am am very dissatisfied with the level of service. Could you help me find new lawyers?
They would need to be really bad in order to consider changing them. Has your mortgage offer been issued? In the event that it has you must make them aware of the new contact details and ensure the mortgage documents are re-sent. Your conveyancer needs to be on the banks approved list to avoid added costs and complications. That should be your starting point. Our find a solicitor tool can assist you in finding a lender approved lawyer for your home move in Sale