I am nearing exchange of contracts for my house in Boscastle and the estate agent has just text me to advise that the buyers are changing their conveyancer. The excuse is that the mortgage company will only work with property lawyers on their approved list. On what basis would a leading mortgage company only engage with specific lawyers rather the firm that they want to select for their conveyancing in Boscastle ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks justify this action to a rise in fraud by way of justification for the reduction – 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 claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms 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 unlikely to have any impact on this.
We are nearing an exchange on a property in Boscastle and my parents have transferred the ten percent deposit to my property lawyer. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to disclose this to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The solicitor is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Completed the sale of my flat in Boscastle last April yet the purchaser is SMS messaging me to moan that their conveyancer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your house sale your lawyer should send the transfer documentation and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your conveyancer should also confirm that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There is unlikely to be post completion requirements peculiar conveyancing in Boscastle.
My lender has recommended solicitors on their panel based in Boscastle but I would rather instruct a conveyancing lawyer in Boscastle round the corner to me. Can you help?
Far from all Boscastle conveyancing solicitors are on all banks conveyancing panel. Use the above find an approved solicitor tool to choose a Boscastle conveyancing firm on the on the mortgage company panel.
Do I need to pay for insurance to address the risk of chancel repairs when purchasing a residence in Boscastle?
Unless a previous acquisition of the property took place after 12 October 2013 you may take it that conveyancing practitioners handling conveyancing in Boscastle to remain encouraging a chancel search and or insurance against a claim.
Is it possible to swap conveyancer as I need to find a firm on the Britannia conveyancing list. I hired a local conveyancing solicitor in Boscastle round the corner but he is not accepted by Britannia
It would be our pleasure to assist you find a conveyancing solicitor in Boscastle on the Britannia panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Boscastle. Using the find a conveyancing solicitor tool on this website, you can scrutinise costs for conveyancing solicitors in Boscastle and throughout England and Wales.