I am 3 weeks into the sale of my maisonette in St Leonard Shoreditch and the EA has just text me to say that the purchasers are appointing a new solicitor. The excuse is that the lender will only engage with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only deal with specific law firms rather the firm that they want to appoint for their conveyancing in St Leonard Shoreditch ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal 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 buyers are not going to have any impact on this.
Why do I have to pay up front for conveyancing in St Leonard Shoreditch?
If you are buying a property in St Leonard Shoreditch your lawyer will ask you to provide them with monies to cover the the cost of the conveyancing searches. Ordinarily this is requested to cover the fees of the conveyancing searches. When the down payment is as part of the sale price then this will be asked for shortly in advance of contracts are exchanged. The final balance that is due should be transferred a couple of days prior to the day of completion.
Our lender has suggested a law firm on their panel based in St Leonard Shoreditch but I would rather use a conveyancing lawyer in St Leonard Shoreditch or nearer to where I live. Are you able to help?
It is by no means the case that all St Leonard Shoreditch conveyancing solicitors are approved and listed on all lender’s conveyancing panel. Use the above search tool to find a St Leonard Shoreditch conveyancing conveyancer on the on the mortgage company panel.
I purchased a 4 bedroom Victorian house in St Leonard Shoreditch. Conveyancing practitioner acted for me and Barclays Direct. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the matching property. Is it worth asking Barclays Direct to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in St Leonard Shoreditch and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing practitioner who carried out the work.
I am looking to sell my property. My former conveyancers closed down. I am in need of a recommendation of a conveyancing firm. Im based in St Leonard Shoreditch if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in St Leonard Shoreditch. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
My partner has suggested that I instruct his conveyancing solicitors in St Leonard Shoreditch. Do I follow his advice?
There are no two ways about it the best way to choose a conveyancing practitioner is to seek feedback from friends or family who have previously instructed the conveyancer that you are considering.