I am progressing with the sale of my maisonette in Billericay and the estate agent has just e-mailed to say that the purchasers are switching conveyancer. I am told that this is due to the fact that the bank will only engage with solicitors on their approved list. On what basis would a major lender only work with specific lawyers rather the firm that they want to choose for their conveyancing in Billericay ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. 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 not going to have any sway in the decision.
As someone with no idea as to the Billericay conveyancing process what’s the number one tip you can give me for the legal transfer of property in Billericay
You may not hear this from too many lawyers but conveyancing in Billericay or throughout Essex is often a confrontational process. Put another way, when it comes to conveyancing there exists plenty of room for conflict between you and other parties involved in the transaction. For instance, the seller, selling agent and on occasion a lender. Appointing a lawyer for your conveyancing in Billericay should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the legal process whose interest is to protect your legal interests and to protect you.
There is a worrying creep of a "blame" culture- someone must be blamed for the process taking so long. You your first instinct should be to trust your conveyancer above the other players in the home moving process.
I had intended to instruct a property lawyer in Billericay for our house move. Our financial adviser has since notified us that our mortgage lenders Lloyds TSB Bank won't deal with them. Why is this not regarded as unfair competition?
Banks normally restrict either the category or the amount of conveyancing practices on their panel. A common example of such criteria being that a law practice must have two or more partners. As well as restricting the profile of firm, a few lenders have decided to limit the number of solicitor practices they permit to act for them. You should note that Lloyds TSB Bank have no responsibility for the quality of advice provided by any member of Lloyds TSB Bank Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there are differing views regarding the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms, including some in or near Billericay only perform very few conveyances per annum.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Billericay bank branch on various occasions and was reassured it wasn't an issue and they will lend. My Billericay conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. I simply don't know who is right.
The conveyancing practitioner must comply with the CML Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am due to exchange contracts on my apartment. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being problematic. The Billericay solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Intending to buy a apartment in Billericay. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Billericay lawyer is on the Santander conveyancing panel.
The deeds to our property are lost. The lawyers who handled the conveyancing in Billericay 10 years ago no longer exist. What are my next steps?
Nowadays there are copies made of almost everything, and your conveyancer will be aware exactly where to locate all the relevant documentation so you may buy or dispose of your house without a hitch. Where duplicates can’t be found, your solicitor can put in place insurance or indemnities against possible claims on your property.
Do I need to be suspicious about 3rd parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Billericay conveyancing practice?
As is the case with lots of professional services, often referrals from relatives can be very helpful. But there are numerous parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks might all recommend solicitors to appoint. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You are at liberty to appoint your own conveyancer. You need to be aware that many mortgage providers have an approved list of law firms you are obliged to use for the lender aspect of your transaction.