We are purchasing a 1 bedroom apartment in Thornbury with a mortgage. We like our Thornbury conveyancer, but the bank says he's not on their "panel". It seems we have no option but to instruct one of the bank panel conveyancing practices or continue with our Thornbury property lawyer as well as pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Thornbury conveyancing solicitor to apply to be on the conveyancing panel.
What happens if my solicitor is suspended from the Virgin Money Solicitor panel ahead of completing my conveyancing in Thornbury?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
If you had a top tip for selecting a conveyancing solicitor in Thornbury what would it be?
Do not opt for the lowest Thornbury conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
is it true that all Thornbury conveyancing solicitors on the Coventry BS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
I'm at the point of looking at flats in Thornbury and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a mortgage with Bank of Ireland.
It would be advisable to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are getting a mortgage with Bank of Ireland, make sure you remember to check that your lawyer is on the Bank of Ireland conveyancing panel.
Due to the advice of my in-laws I had a survey completed on a property in Thornbury prior to instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will not grant a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Thornbury. Conveyancing may be slightly more expensive based on your lender's requirements.
I was advised by numerous estate agents in Thornbury to select a solicitor on your site. What’s the financial inducement for Estate Agents to market your site rather than another?
We don’t give any referral fee for directing people to this site. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am thinking of appointing a conveyancing solicitor in Thornbury for my home move. Is there any facility to review a firm’s complaints history with the legal regulator?
One can review published Solicitor Regulator Association (SRA) determinations stemming from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA could monitor call for training reasons.