I am progressing with the sale of my home in Swanage and the EA has just called to say that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a leading lender only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in Swanage ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to maintain. No lender will say 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. 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 not going to have any sway in the decision.
My brother and I have lately bought a property in Swanage. We have since encountered a number of issues with the property which we suspect were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been carried out for conveyancing in Swanage?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Swanage. Conveyancing searches and due diligence undertaken during the legal transfer of property are supposed to help avoid problems. As part of the process, the vendor completes a questionnaire referred to as a Seller’s Property Information Form. If the information provided is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Swanage.
Why do I have to pay up front for my conveyancing in Swanage?
If you are buying a property in Swanage your lawyer will request that you to provide them with monies to cover the search fees. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any down payment is payable against the total price then this will be asked for shortly prior to contracts are exchanged. Any further balance that is needed will be payable shortly before completion.
We wanted to use a conveyancing solicitor in Swanage for our house purchase. Our financial adviser informed us that our bank Barnsley Building Society won't deal with them. Why is this not regarded as unfair competition?
A lender may insist on a panel conveyancer act for it. Borrowers are expected to bear the charges for this. Please make use of our search facility to choose a solicitor to carry conveyancing in Swanage on the Barnsley Building Society conveyancing panel.
We had chosen conveyancing lawyers based in Swanage on the Santander solicitor panel. They are now charging me a further amount for dealing with the Santander mortgage. Is this a supplemental conveyancing fee set by Santander?
Provided it is contained in their Terms of Engagement or Quote then yes your property lawyer can charge a fee for this. The charge is not dictated by Santander but by your Swanage property lawyer. Numerous firms on the Santander panel will levy an ‘acting for lender’ fee and others do not.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Swanage lawyer on the Nationwide panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
The mortgage over my property is with Aldermore for my property in Swanage. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval before renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Swanage and how can your lawyers assist?
The 1954 Act provides a safeguard to business tenants, granting the a statutory right to apply to court for a renewal lease and remain in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Swanage is one of the hundreds of areas of the UK in which our lawyers have offices