I am 3 weeks into the sale of my apartment in Ashbourne and the EA has just telephoned to say that the buyers are appointing a new conveyancer. The excuse is that the lender will only engage with property lawyers on their approved list. Why would a leading lender only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Ashbourne ?
Lenders have always had an approved set of law firms they are content 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 more than 25 years.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say 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. 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 buyers are not going to have any sway in the decision.
My husband and I are purchasing a purpose built apartment in Ashbourne with a residential mortgage from Skipton Building Society.We like our Ashbourne conveyancing solicitor but Skipton Building Society advised that he's not listed on their approved list of firms. We have to appoint a Skipton Building Society panel solicitor or keep our high street solicitor and pay for a Skipton Building Society panel lawyer to act for them. This seems very unfair; Can we not simply insist that Skipton Building Society use our lawyer?
Unfortunately,no. The mortgage issued to you is subject to its terms and conditions, a common one being that lawyers will be on the Skipton Building Society approved list. Until recently, most lenders had large numbers of solicitors 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Skipton Building Society
Will our solicitor be raising enquiries about flooding during the conveyancing in Ashbourne.
Flooding is a growing risk for conveyancers dealing with homes in Ashbourne. There are those who purchase a property in Ashbourne, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a numerous searches that may be carried out by the buyer or by their lawyers which can figure out the risks in Ashbourne. The conventional set of information sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to find out whether the property has historically flooded. In the event that flooding has previously occurred which is not disclosed by the owner, then a buyer could commence a compensation claim stemming from an incorrect answer. The purchaser’s lawyers should also order an enviro search. This should disclose whether there is a recorded flood risk. If so, more detailed investigations will need to be conducted.
How does conveyancing in Ashbourne differ for newly converted properties?
Most buyers of new build premises in Ashbourne come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Ashbourne tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ashbourne or who has acted in the same development.
Is it possible to switch firm as I need to instruct one who is on the Godiva Mortgages Ltd conveyancing panel. I hired a family conveyancing solicitor in Ashbourne round the corner but she is not accepted by Godiva Mortgages Ltd
We will our best to assist in finding you a conveyancing solicitor in Ashbourne on the Godiva Mortgages Ltd panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in Ashbourne. In making use of the find a conveyancing solicitor tool on this site, you can scrutinise fees for conveyancing solicitors in Ashbourne and beyond.
I have been sourcing a conveyancing solicitor in Ashbourne for my purchase. Is it possible to check a firm’s complaints history with the legal regulator?
Members of the public may find presented Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA may monitor call for training reasons.