I am one month into the sale of my maisonette in Wroughton and the estate agent has just e-mailed to warn that the purchasers are changing their conveyancer. The excuse is that the lender will only engage with solicitors on their approved list. Why would a major mortgage company only work with specific law firms rather the firm that they want to choose for their conveyancing in Wroughton ?
UK lenders have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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. The purchasers are not going to have any impact on this.
My wife and I are close to exchanging contracts on the sale of our property in Wroughton and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers are using an internet conveyancing practice as opposed to a conveyancing solicitor in Wroughton. Having lived in Wroughton for three years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
It has been three months since my purchase conveyancing in Wroughton concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Is it possible to swap conveyancer as I have to instruct one who is on the Halifax conveyancing list. I hired a local conveyancing solicitor in Wroughton five minutes from me but she is not approved by Halifax
We will our best to assist in finding you a conveyancing solicitor in Wroughton on the Halifax panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Wroughton. In making use of the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Wroughton.
We're novice buyers - had an offer accepted, yet the agent advised that the owners will only go ahead if we use the agent's chosen conveyancers as they want a ‘quick sale’. We would rather use a local conveyancer who is familiar with conveyancing in Wroughton
We suspect that the seller is not behind this demand. If they require ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Speak to the owners direct and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you are going to instruct your own,trusted Wroughton conveyancing solicitors - rather thanthose that will earn their estate agent a kickback or hit his conveyancing figures set by head office.
Are the Wroughton conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the lender?
Wroughton law firm practices and firms carrying out conveyancing in Wroughton themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the mortgage company directly.