I am in the process of selling my house in Bude and the estate agent has just text me to advise that the buyers are appointing a new law firm. The reason given is that the bank will only work with solicitors on their conveyancing panel. On what basis would a big named lender only engage with specific law firms rather the firm that they want to appoint for their conveyancing in Bude ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose 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. Your buyers are unlikely to have any sway in the decision.
We are selling our flat in Bude. Does the property lawyer have to be required to be on the TSB conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
I purchased my house on 16 November and the transaction details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Bude expressed confidence that it will be formalised inside ten days. Are transfers in Bude particularly slow to register?
As far as conveyancing in Bude is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and if the Land registry need to notify any other persons or bodies. At present roughly 80% of submission are fully addressed in less than three weeks but some can be subject to protracted hold-ups. Registration occurs after the new owner is living at the premises thus 'speed' is not always top priority but if it is urgent that the the registration takes place urgently then you or your conveyancer should contact the land registry and explain the circumstances.
Hoping to buy a property located in Bude and I am already nervous. I couldn't find anything specific about Bude. Conveyancing will be needed in due course but do you know about the Bude area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bude. In the meantime here are some basic statistics that we found
My step-father has urged me to appoint his conveyancers in Bude. Do I follow his guidance?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to seek referrals from friends or relatives who have previously instructed the solicitor that you are considering.
It has taken forever and a day but a mortgage agreement from a bank for the refinancing of my 4 bedroom flat is coming any day now. Could you recommend a low cost remortgage conveyancing law firm in Bude ?
You have come to the wrong place to search for the lowest fares for conveyancing in Bude. Our goal is to offer value for money conveyancing but we do not advertise as being the cheapest. Avoid the trap of appointing brokers offering £99 conveyancing in Bude.In your best case scenario, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for additional fee and still not get the service expected.