I am progressing with the sale of my flat in Byker and Walker and the estate agent has just telephoned to advise that the purchasers are appointing a new solicitor. The excuse is that the lender will only engage with property lawyers on their approved list. On what basis would a major mortgage company only deal with specific law firms rather the firm that they want to appoint to handle their conveyancing in Byker and Walker ?
UK lenders have always had panels of law firms that can represent them, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders attribute this action to a rise in fraud as the reason for the reduction – 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 claims that 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 purchasers are not going to have any impact on this.
My fiance and I are hoping to buy a newbuild flat in Byker and Walker with a residential mortgage from The Mortgage Works.We like our Byker and Walker conveyancing practitioner but The Mortgage Works informed us his firm is not on their "panel". We have to appoint a The Mortgage Works panel solicitor or keep our preferred solicitor and fork out for a The Mortgage Works panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan offered to you contains terms and conditions, one of which will be that lawyers will be on the The Mortgage Works solicitor panel. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for The Mortgage Works
Is it correct that all Byker and Walker CQS (Conveyancing Quality Scheme) solicitors are on the Principality conveyancing list of approved solicitors?
A selection of banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
Is it the case that all Byker and Walker solicitors on the RBS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the RBS conveyancing panel they would need to be regulated by the SRA. The majority of banks do allow licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
We had instructed conveyancing lawyers with offices in Byker and Walker on the Santander solicitor approved list. They are now charging me a separate charge for the legal aspects of the Santander mortgage. Is this a supplemental conveyancing fee specified by Santander?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancer is entitled to levy a fee for this. The fee is not dictated by Santander but by your Byker and Walker solicitor. Numerous firms on the Santander panel will charge an ‘acting for lender’ fee and others do not.
We are purchasing a property and the conveyancer has mentioned Chancel Repair for which the house may be liable given it’s proximity to the area of such a church. He has suggested insurance. Is this really appropriate for conveyancing in Byker and Walker
Unless a previous purchase of the property took place after 12 October 2013 you can assume that solicitors conducting conveyancing in Byker and Walker to remain recommending a chancel search and or chancel repair liability policy.
As co-executor for the estate of my grandmother I am selling a property in Cardiff but I am based in Byker and Walker. My conveyancer (approximately 235 miles from meneeds me to sign a statutory declaration before completion. Could you suggest a conveyancing practitioner in Byker and Walker who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are located in Byker and Walker
My wife and I have recently appointed a conveyancing solicitor in Byker and Walker. I I would like to check if they are listed on the lender's approved list of lawyers. Could you help?
It’s a good idea contact your lawyer to check if they are on the bank's panel. If that does not help get in touch with us and we can investigate and revert. If they are not on the lender panel we can certainly arrange a reputable conveyancing solicitor in Byker and Walker on the panel for your lender.