My husband and I are intending to purchase a 3 bedroom flat in West Thurrock with a mortgage. We have a West Thurrock lawyer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our West Thurrock lawyer and pay for one of their panel firms to act for them. We feel that this is inequitable; can we not require that the lender use our West Thurrock property lawyer ?
No, not really. Your mortgage offer 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 West Thurrock conveyancing solicitor to apply to be on the conveyancing panel.
We note that you have a search directory listing solicitors on the Lloyds conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in West Thurrock?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in West Thurrock.
We wanted to use a property lawyer in West Thurrock for our house move. Our broker has since notified us that our mortgage company Norwich and Peterborough Building Society won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most banks had a different appetite for risk. Almost all West Thurrock conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 completed a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms relating to their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum number of transactions. Many West Thurrock conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. West Thurrock is one of the thousands of locations where the lawyers showing on our search results are members of the panel for Norwich and Peterborough Building Society.
Me and my partner are purchasing a house in West Thurrock. It might be a silly question but how we can trust a conveyancer? On completion day we will need to send our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Have just purchased a probate house at auction in West Thurrock. Conveyancing is necessary. What is next?
Given that you have now exchanged you will need to find a conveyancing lawyer as a matter of priority as you now have a tight a drop dead date to complete the property. An auction property will have a corresponding legal pack. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You need to hand this to the conveyancer working for you at the earliest opportunity. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a West Thurrock lawyer on the Nottingham panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
Am I right to be concerned about brokers that I am dealing with are recommending a factory type conveyancing firm rather than a local West Thurrock conveyancing company?
As is the case with lots of service providers, often referrals from family and friends can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, financial adviser and mortgage companies might all recommend conveyancers to appoint. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there exists a financial incentive behind the endorsement. You have the discretion to appoint your own lawyer. Don't forget that the majority of banks have an approved list of law firms you are obliged to use for the mortgage related work in your conveyancing.
My uncle has encouraged me to appoint his conveyancing solicitors in West Thurrock. Do I take his advice?
Much as we are happy to recommend a West Thurrock conveyancing lawyer the best way to find a conveyancing solicitor is to have guidance from friends or relatives who have actually previously instructed the firm you're considering.