I am 4 weeks into the sale of my maisonette in Sudbury and the EA has just telephoned to warn that the buyers are swapping solicitor. The excuse is that the bank will only deal with property lawyers on their approved list. On what basis would a big named mortgage company only deal with specific solicitors rather the firm that they want to appoint for their conveyancing in Sudbury ?
Banks have always had panels of law firms they are content to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for 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 monitor. 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. Some are unaware that 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 not going to have any sway in the decision.
We are buying a property and need a conveyancing solicitor in Sudbury who is on the Yorkshire BS conveyancing panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Yorkshire BS . We don't recommend any particular firms conducting conveyancing in Sudbury.
I had intended to instruct a property lawyer in Sudbury for our home move. Our broker informed us that our bank Britannia won't deal with them. Surely this is unduly restrictive?
A decade ago most lenders had a different appetite for risk. Almost all Sudbury conveyancing firms would have been on most mortgage company panels. The financial services regulator in 2010 completed a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms relating to their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of conveyancing. Many Sudbury conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Sudbury is one of the thousands of areas where the solicitors we recommend are are approved Britannia.
I have todaydiscovered that Action Conveyancing have been shut down. They conducted my conveyancing in Sudbury for a purchase of a freehold house 10 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Sudbury conveyancing specialists.
I decided to have a survey carried out on a property in Sudbury prior to retaining lawyers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders may refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Sudbury. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it possible to change conveyancer as I have to find one who is on the Platform Home Loans Ltd conveyancing list. I instructed a family conveyancing solicitor in Sudbury five minutes from me but he is not accepted by Platform Home Loans Ltd
It would be our pleasure to help you select a conveyancing solicitor in Sudbury on the Platform Home Loans Ltd panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Sudbury. In utilising the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Sudbury.