I am five weeks into the sale of my home in Sleaford and the estate agent has just e-mailed to advise that the buyers are appointing a new conveyancer. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. Why would a major mortgage company only engage with specific law firms rather the firm that they want to select to handle their conveyancing in Sleaford ?
UK lenders have always had panels of law firms that can represent them, 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 more than 15 years.
Banks attribute this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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 unlikely to have any sway in the decision.
We are getting a further advance on our home loan from Bank of Ireland as we wish to conduct a loft conversion to our property in Sleaford. Are we obliged to select a bricks and mortar Sleaford solicitor on the Bank of Ireland conveyancing panel to deal with the paperwork?
Bank of Ireland would not normally appoint a member of 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 Bank of Ireland list.
My fiancee and I are in the process of looking at flats in Sleaford and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a home loan with Barclays.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. As you are obtaining a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being difficult. The Sleaford solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The deeds to my house can not be found. The lawyers who conducted the conveyancing in Sleaford 10 years ago have long since closed. Will I be able to sell the house?
Nowadays there are copies made of almost everything, and your lawyer will be aware exactly where to look for all the suitable paperwork so you can purchase or sell your property without any difficulty. If duplicates are not available, your conveyancer may be able to put in place insurance or indemnities against future claims on the premises.
How does conveyancing in Sleaford differ for newly converted properties?
Most buyers of new build premises in Sleaford contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Sleaford usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Sleaford or who has acted in the same development.
I have been sourcing a conveyancing practitioner in Sleaford for my home move. Is it possible to check a solicitor's record with the legal regulator?
Members of the public can see published Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.
I am thinking of choosing an online conveyancing practitioner as opposed to a Sleaford conveyancing firm. Any advice?
Advantages do exist in being able to visit a local Sleaford conveyancing solicitor for instance
- signing papers same day
- having face-to-face explanations of things you don't understand
- the ability to raise concerns if matters go pear-shaped
When checking quotes, look carefully for hidden extras. Most decent Sleaford high street solicitors give an all-inclusive price. Often online agents appear to offer discounted fees, yet have burried 'extras' in the small print.