I am one month into the sale of my house in Yeadon and the EA has just telephoned to advise that the purchasers are swapping conveyancer. The excuse is that the lender will only engage with solicitors on their approved list. On what basis would a major lender only deal with certain lawyers rather the firm that they want to select for their conveyancing in Yeadon ?
UK lenders have always had panels of law firms that can represent them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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 impact on this.
Our lawyer has identified a a legal deficiency with the lease for the apartment we are buying in Yeadon. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. The appropriate lender provisions must be adhered to.
We note that you have a post code search directory identifying firms on the Co-operative conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Yeadon?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Yeadon.
I am considering refinancing my apartment in Yeadon, does my lawyer have to be on the Leeds Building Society Conveyancing panel?
In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I am planning on selling our property in Yeadon and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any high street Yeadon lawyer 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 Yeadon. We have lived in Yeadon for 4 years we know of no issue. Should we contact our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You must check with 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 life insurance to cover that same illness)
My brother has encouraged me to instruct his lawyers for conveyancing in Yeadon. Do I follow his advice?
Much as we are happy to recommend a Yeadon conveyancing lawyer it’s preferable to select a conveyancing lawyer is to get feedback from friends or relatives who have actually experience in using the solicitor you're contemplating using.