We wanted to use a property lawyer in St Davids for our house purchase. Our broker has since advised us that our bank Barclays Direct won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies in the main imposes restrictions either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the type of firm, some have decided to limit the number of solicitor practices they allow to represent them. Be aware that Barclays Direct have no responsibility for the quality of advice provided by any member of Barclays Direct Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels a few years ago even though there are differing opinions about the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that plenty of law firms, including some in or near St Davids only carry out a couple conveyances per annum.
Is it correct that all St Davids CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing panel?
A selection of banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Can you point me to a directory of Co-operative panel solicitors in St Davids on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings viewable over the internet. If you are seeking to appoint a St Davids conveyancing practitioner on the Co-operative please make the most of our tool.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a St Davids lawyer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
A colleague advised me that where I am buying in St Davids I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your St Davids conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about St Davids around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding St Davids.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. St Davids is the location of the property. Can you shed any light on this issue?
Flying freeholds in St Davids are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Davids you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Davids may determine 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 premises.
Am I right to be wary by estate agents that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a local St Davids conveyancing practice?
As is the case with many service providers, often suggestions from relatives can be worth their weight in gold. Nevertheless there are many players in a conveyancing matter; estate agents, financial adviser and banks might all put forward lawyers to appoint. On occasion these solicitors might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the endorsement. You have the discretion to choose your own lawyer. You need to be aware that most mortgage providers have an approved list of solicitors you are obliged to use for the lender aspect of your home move.
My husband and I are 17 days into a residential purchase having been recommend to conveyancers by the estate agent to do our conveyancing in St Davids. We are not happy. Can you help me find new solicitors?
A solicitor would need to be really bad in order to consider diss instructing them. Has your loan offer been sent? In the event that it has you need to advise them of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your conveyancer should be on the mortgage company approved list to avoid supplemental charges and delays. So that should be your starting point. Our search tool will assist you in finding a lender approved lawyer for your conveyancing in St Davids