I am progressing with the sale of my apartment in Ashtead and the estate agent has just called to advise that the buyers are changing their solicitor. The reason given is that the lender will only engage with property lawyers on their conveyancing panel. Why would a major mortgage company only engage with certain law firms rather the firm that they want to choose for their conveyancing in Ashtead ?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks attribute this action to a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. 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. 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. Your buyers are unlikely to have any impact on this.
Would the conveyancing practitioners indexed on your site perform right to buy conveyancing in Ashtead?
We work with a variety of conveyancing practitioners who can conduct right to buy conveyancing matters Do e-mail the solicitors listed in order to secure a costs illustration.
Are the BSA intent on creating a search tool with a view to list firms on the Coventry BS conveyancing panel for instance in Ashtead?
We are not aware of any plans on the part of the BSA to develop such a search facility.
How does conveyancing in Ashtead differ for new build properties?
Most buyers of new build premises in Ashtead approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Ashtead usually acquire the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Ashtead or who has acted in the same development.
I have been pointed in your direction by a few selling agents in Ashtead to find a solicitor using your seach tool. Is there a financial upside for Estate Agents to offer your site rather than another?
We don’t make any referral fee for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My brother has recommend that I appoint his lawyers for conveyancing in Ashtead. Should I choose my own property lawyer?
Much as we are happy to recommend a Ashtead conveyancing lawyer the best way to select a conveyancing solicitor is to seek feedback from friends or family who have actually previously instructed the solicitor you're considering.