I am not well enough to travel far from Bollington. Is there a reason why all Bollington solicitors aren't automatically on all bank panels?
Before the recession most lenders exhibited an approach to risk which is different from today. The FSA in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. Consequently, lenders have since looked to extract more data from law firms about their processes and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have found themselves excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum volume of transactions the mortgage companies set.
The owners have very assertive sellers who has recommended a preliminary contract with a payment 10k. Are such agreements sensible?
There are two main concerns with executing a lock out agreement (sometimes known as an exclusivity agreement) is that it takes away the focus from progressing with the conveyancing transaction itself, so in the absence of it needing minimal or no negotiation then it could transpire to be unhelpful. It is not promoted amongst Bollington conveyancing practitioners for this reason. The other main concern is the extent of the remedies available - a jilted buyer should not expect to win injunctive relief to prevent the vendor completing the sale to a third party, so the only remedy open via the contract will be the reimbursement of abortive costs and, in restricted situations, the extra payment of damages.
We note that you have a search directory identifying firms on the TSB conveyancing panel. Do firms pay you a commission if I instruct them for our conveyancing in Bollington?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bollington.
Please explain the implications if my solicitor is removed from the Leeds Building Society Conveyancing panel ahead of completing my conveyancing in Bollington?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Can I be sure that the Bollington conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Bollington seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor carrying out your conveyancing.
I am currently in the process of buying my council flat in Bollington. I have a mortgage offer with Co-operative. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
After weeks of negotiation I have agreed a price on an apartment in Bollington. My mortgage broker recommended their conveyancers. I paid an advanced payment of £175. A couple of days later, the lawyer contacted me to say that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How do I search for a Bollington solicitor on the HSBC Bank conveyancing panel? I drive a motor bike and am willing to travel upto 20miles to meet the solicitor.
Feel free to make use of the tool on this page. Please choose the lender and your location and you will see a number of Bollington conveyancing lawyers based on proximity. We have listed some Bollington conveyancing firms at the bottom of this page and you can call them to check if they are on the HSBC Bank approved list