I am progressing with the sale of my apartment in Wetherby and the EA has just text me to warn that the purchasers are changing their conveyancer. The excuse is that the lender will only engage with property lawyers on their approved list. On what basis would a leading mortgage company only work with certain solicitors rather the firm that they want to select to handle their conveyancing in Wetherby ?
Lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions blame a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose 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 do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
Please could you vouch for a National Westminster Bank accepted Wetherby conveyancing conveyancer finish our house move within under 3 weeks? Am I best advised to choose a high street Wetherby conveyancer or a web based firm?
We can recommend some very good Wetherby conveyancing firms. Another option is to visit the high street in Wetherby. Go in to a couple of firms and request to see a conveyancing solicitor for a fee estimate. Explain your deadline together with your reasons and ask for an assurance on your deadline. Choose the lawyer that you are most comfortable with.
I have a decision in principle. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would prefer to use a local conveyancing solicitor in Wetherby?
You should check but the the likelihood is that allocate you one of their panel conveyancers should you accept the "fee-free" offer. Speak to the mortgage company to explore if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Wetherby.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Wetherby?
There are many registered licenced Conveyancers in Wetherby and Solicitor practices in Wetherby to choose from We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. The two can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Is it correct that all Wetherby CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing panel?
A selection of banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I am purchasing a property in Wetherby. An unusual aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Leeds Building Society your lawyer must check the conveyancing requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Leeds Building Society where a lease does not comply with these specifications. The conditions relate to the installation of panels on properties nationwide and is not isolated to Wetherby.
I have justdiscovered that Stirling Law have been shut down. They carried out my conveyancing in Wetherby for a purchase of a leasehold flat 12 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest way to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wetherby conveyancing specialists.
Due to the advice of my in-laws I had a survey completed on a property in Wetherby in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies tend refuse to grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wetherby. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wetherby to see if the conveyancing costs will increase in light of this.