I am in the process of selling my home in Swaffham and the estate agent has just e-mailed to advise that the buyers are swapping property lawyer. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only engage with specific lawyers rather the firm that they want to select to handle their conveyancing in Swaffham ?
UK 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 Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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 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 purchasers are not going to have any sway in the decision.
I am considering applying for a Santander mortgage for purchase of a newly converted (under development) in Swaffham with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
In theory, you could use a solicitor that is not on the Santander conveyancing panel, but Santander would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Have purchased a a semi-detached house in Swaffham , how long should it take for the Land Registry to record the transfer to my name? My Swaffham conveyancing solicitor works at snail pace, so I want to check that my ownership is registered.
There is nothing unique when it comes to conveyancing in Swaffham registration formalities. Rather than based on location, timescales can differ according to the party submitting the application, whether there are errors and whether the Land registry need to notify any third parties. As of today approximately 80% of such applications are completed in less than three weeks but occasionally there can be protracted hold-ups. Registration is effected once the buyer has moved in to the property so 'speed' is not always top priority but where it is urgent that the the registration takes place urgently then you or your conveyancer could speak with the land registry and explain the circumstances.
I was recommended by a number of estate agents in Swaffham to locate a conveyancer on your site. What’s the financial upside for Estate Agents to market your site ahead of alternative conveyancing organisations?
We don’t give any commission for sending work to this site. We thought it would be too underhand a fee as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are new to the buying process - agreed a price, but the property agent has warned us that the vendor will only proceed if we instruct their preferred conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer accustomed to conveyancing in Swaffham
We suspect that the owner is not behind this requirement. Should the vendor desire ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you are going to appoint your preferred Swaffham conveyancing firm - not the ones that will provide the negotiator at the agency a kickback or hit his conveyancing thresholds demanded by head office.
I acquired a house in Swaffham last 24/1/2025 and to date it is still not recorded with HM Land Registry. It is part of a development site and my solicitor told me that it can take twelve months to register. I have called HM Land Registry directly and they say that the original application was cancelled due to failure to reply to requisitions. What can I do?
It is your solicitor that you should contact in order to satisfy any questions which have been raised as part of the registration formalities for your Swaffham property. Normal Swaffham conveyancing practice includes an undertaking on the part of the previous owner’s lawyer that they will assist in resolving any registration raised by HMLR so it may be a case of seeking to enforce that undertaking in some way.