I am in the process of selling my flat in Temple and the estate agent has just telephoned to advise that the purchasers are switching solicitor. The reason given is that the mortgage company will only deal with solicitors on their approved list. Why would a big named lender only engage with certain lawyers rather the firm that they want to select for their conveyancing in Temple ?
Lenders have always had panels of law firms that can represent them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been tightened 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 says it is hearing daily from firms that have been removed from panels. Plenty of firms 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 purchasers are not going to have any sway in the decision.
We wanted to use a conveyancing solicitor in Temple for our home move. Our financial adviser informed us that our bank Barnsley Building Society won't deal with them. Surely this is unduly restrictive?
A lender may insist on an approved conveyancer act for it. Borrowers are liable to meet the charges for this. Please make use of our search facility to select a solicitor to conduct conveyancing in Temple on the Barnsley Building Society approved list of solicitors.
Completion of my purchase has taken place for my property in Temple. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
About to purchase house in Temple. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Temple property lawyer is on the Skipton conveyancing panel.
Our offer on a property in Temple has been accepted, the owners do however have a connected purchase. The owners have offered on a flat, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have selected a high street conveyancing solicitor in Temple. What should be my next step? When should I get the mortgage application with Nationwide started?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then valuation, Temple conveyancing search costs, etc). The first course of action is to ensure that your conveyancer is on the Nationwide conveyancing panel. As to the next steps this very much depends on the circumstances of your case, attraction to this property and on the state of the market. During a rising market many buyers would apply for the mortgage with Nationwide and pay for the valuation and only if it comes back ok would they ask their conveyancing practitioner to proceed with the conveyancing in Temple.
I decided to have a survey completed on a house in Temple before retaining conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some banks may not grant a loan on this type of house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Temple. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Temple to see if the conveyancing costs will increase in light of this.
In my capacity as executor for the estate of my grandfather I am disposing of a residence in Cardiff but I am based in Temple. My conveyancer (approximately 235 kilometers from meneeds me to sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in Temple to witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are based in Temple
At last I have had an offer on an maisonette in Temple accepted, but there is a chain. The sellers have offered on on an apartment, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have chosen a nearby conveyancing solicitor in Temple. What do I do now? When should I get the mortgage application with Lloyds started with Lloyds?
It is usual to have apprehensions where there is an associated chain given your reluctance to be too out of pocket too early (home loan application is approx £1k, then survey, Temple conveyancing search costs, etc). First, you must check that your property lawyer is on the Lloyds conveyancing panel. As to the subsequent phase this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a hot market the majority of home buyers will apply for a home loan with Lloyds and arrange for the survey and only if it was satisfactory would they pay their conveyancing practitioner to move forward with searches.