I am in the process of selling my house in Stourbridge and the EA has just e-mailed to advise that the buyers are switching solicitor. The reason given is that the lender will only engage with property lawyers on their approved list. Why would a major lender only work with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Stourbridge ?
Banks have always had an approved set of law firms they are willing to work with, 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 represented them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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. The buyers are unlikely to have any impact on this.
I require conveyancing for a flat in a fairly new development (five years built) in Stourbridge. The vast majority the flats have already been disposed of. Is it really necessary to order local searches for my conveyancing in Stourbridge?
Where you are obtaining a loan, your lender will require some (many) of the searches so you'll have no choice. If not, then Stourbridge conveyancing searches are optional. No doubt your conveyancer, will ’encourage’, perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to instruct a new lawyer for your conveyancing in Stourbridge.
Can I use your services to find a Conveyancing solicitor in Stourbridge even if I’m not purchasing or selling a house, for instance where I want to acquire an office in Stourbridge with a loan from Lloyds TSB Bank?
Our search tool is mainly used to help choose domestic conveyancing solicitors in Stourbridge but we have recorded at the bottom of this page some Stourbridge commercial conveyancing firms. You should enquire with the firm directly to establish if they can also act for Lloyds TSB Bank
We're in Stourbridge, FTBs purchasing with a mortgage (lender is HSBC , and our solicitor is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
It has been 3 months following my purchase conveyancing in Stourbridge concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been sourcing a conveyancing lawyer in Stourbridge for my sale. Can I check a firm’s complaints history with the legal regulator?
Anyone may read presented Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator could monitor call for training reasons.