I am selling my home in Watford and the estate agent has just telephoned to warn that the buyers are changing their conveyancer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. Why would a leading lender only work with certain solicitors rather the firm that they want to choose for their conveyancing in Watford ?
Lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. 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. Some 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. Your purchasers are unlikely to have any sway in the decision.
I am acquiring a house mortgage free in Watford. I have lived for the last Seventeen years in Watford. Conveyancing searches are exorbitant. Given that I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a home loan, then all but one or two of the Watford conveyancing searches are at your discretion. Your solicitor will ’encourage you, perhaps strongly, that you should have searches carried out, but he is duty bound to do this. One thing to bear in mind; if you are intend to dispose of the house at a future date, it may be of importance to your future buyer what the searches determine. On occasion houses with no practical issues can still reveal negative search results. A competent conveyancing solicitor in Watford should be able to give you some constructive guidance here.
How up to date is your database of Watford solicitors on the Clydesdale conveyancing panel? Do Clydesdale send you an updated list?
Watford conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to use a local conveyancing solicitor in Watford?
Do check but the chances are that give you one of their panel conveyancers if you take up the "fee-free" deal. Call the lender and see if they make available a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Watford.
I used Action Conveyancing a few years past for my conveyancing in Watford. I now require my papers however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Watford of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
We are in the middle of purchasing a property in Watford. Conveyancing lawyer has called to say the property is "Leasehold". Will this likely make a difference on the marketability of the property?
Watford conveyancing does not in most situations involve leasehold houses. The key consideration here is the unexpired lease term and the ground rent. If it's 999 years with a peppercorn rent, it's essentially freehold, so it shouldn't impact the value significantly.
At the other end of the spectrum, if it's, say, Sixty years it will have a adverse impact on the value, and probably wouldn't be mortgageable. The length of lease and ground rent will be set out in the lease which should be made available to your property lawyer.