Unfortunately I am unable to travel far from Burbage. Please explain the reason why all Burbage conveyancing practitioners aren't automatically on all bank panels?
Before the recession most banks had an attitude to risk which is different from today. The Financial Services Authority in 2010 instigated a thematic review into property fraud which concluded: know the lawyers on your panel. As a result, lenders have subsequently looked to extract more data from law firms regarding their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of law practices have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum amount of transactions the lenders required.
Do the Building Society Association intend to launch a searchable register to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for instance in Burbage?
Lexsure has not been advised of any plans on the part of the BSA to develop such a register.
Are all Burbage Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
A selection of lenders now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
Two weeks ago we had a mortgage agreed in principle with Coventry BS. Burbage conveyancing solicitors have been instructed. How long does it take for Coventry BS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Coventry BS completed the survey? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer accepted on an apartment in Burbage. My financial adviser suggested a solicitor. I paid an on account payment of £225. A couple of days later, the lawyer contacted me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I require quick conveyancing in Burbage as I am under pressure to sign on the dotted line inside one month. Thankfully I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?
If.Given you are not obtaining a mortgage you have the choice not to have searches carried out although no lawyer would suggest that you don't. Drawing on our experience of conveyancing in Burbage the following are instances of what can appear and adversely impact market value: Enforcement Actions, Overdue Charges, Overdue Grants, Unadopted Roads,...
I purchased a terraced Edwardian property in Burbage. Conveyancing lawyer acted for me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Burbage and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing solicitor who carried out the work.
I opted to have a survey done on a property in Burbage prior to retaining solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend refuse to give a loan on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Burbage. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Burbage to see if the conveyancing costs will increase in light of this.