I am not in a position to travel far from Washington. Is there a reason why all Washington conveyancers are not on all bank panels?
Mortgage companies point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to lenders culling less reputable firms off their panel of approved lawyers .
My bank has recommended solicitors on their panel based in Washington but I would rather use a conveyancing lawyer in Washington round the corner to me. Are you able to help?
It is by no means the case that all Washington conveyancing firms are listed all lender’s conveyancing panel. Do make use of the above find an approved solicitor tool to find a Washington conveyancing solicitor on the on the bank panel.
What is your number one tip for finding a conveyancing solicitor in Washington
Do not opt for the lowest Washington conveyancing quote. You really do get what you’re paying 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 go into the conveyancing with your eyes wide open.
Is it the case that all Washington solicitors on the Coventry BS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be governed by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in that case the firms would be overseen by the Council of Licensed Conveyancers.
Completion of my purchase has taken place for my property in Washington. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
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 Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Washington differ for new build properties?
Most buyers of new build residence in Washington approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Washington typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Washington or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Washington I like with open areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Washington suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Me and my wife have agreed a price on a Washington flat left to us seven years ago in 2011. I have over a decades worth of conveyancing knowledge and, now retired, wish to undertake the conveyancing. The buyer's solicitor has informed me that their mortgage company will not allow you to do your own conveyancing mandating that the funds to be transferred to a solicitor's bank account.
Mortgage requirements to property lawyers from all mainstream lenders specify that If the vendor is not legally represented the buyer’s lawyers should check whether the mortgage company needs to be told so that a decision can be made as to whether they are prepared to progress.