I am selling my maisonette in Southwark and the EA has just called to advise that the buyers are changing their solicitor. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. On what basis would a leading mortgage company only engage with specific lawyers rather the firm that they want to choose to handle their conveyancing in Southwark ?
Lenders have always had an approved set of law firms they are content to work with, 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 worked with them for over 25 years.
Banks point to the increase in fraud by way of justification for the pruning – 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 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. Your purchasers are unlikely to have any impact on this.
It is 10 years ago since I acquired my home in Southwark. Conveyancing solicitors have just been instructed on the sale but I can't locate my deeds. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be with your mortgage company or they could be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Southwark relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
Is there a list of Virgin Money panel solicitors in Southwark on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available over the internet. If you are looking for a Southwark lawyer on the Virgin Money please use our tool.
is it true that all Southwark solicitor firms on the TSB conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the TSB conveyancing panel they would need to be overseen by the SRA. Many lenders do list licenced conveyancers on their panel and in that case the firms would be regulated by the Council of Licensed Conveyancers.
We had selected solicitors locally in Southwark on the Principality solicitor approved list. They are now charging me a supplemental charge for dealing with the Principality mortgage. Is this a supplemental conveyancing fee specified by Principality?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer is entitled to levy a fee for this. This fee is not set by Principality but by your Southwark property lawyer. Plenty of firms on the Principality panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a property in Southwark? or Apparently there is an ancient law that means some homeowners living in a parish church boundary may be liable to pay for maintenance towards the chancel in proximity to the church. Is this applicable for conveyancing in Southwark?
Unless a previous purchase of the property completed post 12 October 2013 you can expect conveyancing practitioners handling conveyancing in Southwark to continue to recommend a chancel search and or insurance against a claim.
What makes your site different to alternative online quote calculators for conveyancing in Southwark?
At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Southwark. Unlike many estate agents and brokerage sites we do not operate referral deals with solicitors. Many agents and online brokers 'recommend' solicitors who pay the most commission, as opposed to the best value conveyancing in Southwark
My husband and I are 17 days into a residential purchase having been directed to conveyancers by the selling agent to do our conveyancing in Southwark. I am am extremely frustrated with the quality of service. Can you you assist me in finding new solicitors?
A conveyancer would need to be very poor in order to consider diss instructing them. Has your mortgage offer been sent? In the event that it has you will need to inform them of the new contact details and ensure the mortgage documents are re-issued. Your conveyancer should be on the banks panel to avoid supplemental charges and complications. So that should be your first question of the new lawyers. The find a solicitor tool will help you find a bank approved lawyer for your conveyancing in Southwark