I am one month into the sale of my flat in Bicester and the estate agent has just called to advise that the purchasers are appointing a new law firm. The excuse is that the bank will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only engage with certain solicitors rather the firm that they want to choose for their conveyancing in Bicester ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies blame a rise in fraud as the reason for the pruning – criteria have been narrowed 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 hearing daily from firms that have been removed from panels. Some 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. The buyers are unlikely to have any sway in the decision.
After researching moneysavingexpert.com for a high-quality solicitor in Bicester, most advise that I must use a CQS kitemarked solicitor. What is CQS?
Bicester Conveyancing Quality Scheme law firms have been granted accreditation under the Law Society's Scheme (CQS) The Law Society introduced CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS enables consumers to identify practices who provide a quality residential conveyancing. Bicester is one of locations in England and Wales in which CQS have offices. The scheme requires practices to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
A relative pointed out to me me that in purchasing a property in Bicester there may be various restrictions preventing external alterations to a property. Is this right?
There are a number of properties in Bicester which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Bicester should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Santander, do Bicester solicitors face a fee to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bicester solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bicester surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
2 months have gone by since my purchase conveyancing in Bicester completed. 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 property 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.
My father has suggested that I use his conveyancing solicitors in Bicester. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing practitioner is to have feedback from friends or relatives who have actually used the solicitor that you are are thinking of instructing.
What is the best way to find the right lawyer for my conveyancing in Bicester ?
Option 1 is to ask the people you trust who they used in the past and if they were happy with the service. Option 2 is to use a search tool on the internet for conveyancing in Bicester. Phone a couple or more firms from the list and ask them to email you their conveyancing fees and speak to the lawyer who will conduct your conveyancing before you make your choice. Third is to use this site to assist you in finding the right solicitors taking into account your unique requirements including location,speed, complexity and who the proposed lender is.Resist the temptation to appoint lowest cost conveyancing solicitors in Bicester