I am 3 weeks into the sale of my house in Coombe and the EA has just e-mailed to advise that the purchasers are swapping property lawyer. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a big named lender only deal with certain solicitors rather the firm that they want to choose for their conveyancing in Coombe ?
Lenders have always had panels of law firms that can represent them, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal 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. Some 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 buying a newly converted apartment in Coombe with a loan from TSB.We use our Coombe conveyancing lawyer but TSB advised that her practice is not listed on their "panel". It seems we are left with no choice but to instruct a TSB panel firm or keep our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan issued to you contains terms and conditions, one of which will be that lawyers needs to be on the TSB solicitor panel. Until recently, most lenders had large numbers of solicitors 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 TSB
I am buying a 3 bedroom semi in Coombe. We would like to an extension at the rear at the house.Will legal investigations on the property include enquiries to determine if these alterations were previously refused?
Your conveyancer will review the deeds as conveyancing in Coombe can sometimes identify restrictions in the title deeds which prohibit categories of alterations or necessitated the consent of another owner. Some extensions need local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
We had instructed solicitors locally in Coombe on the RBS solicitor approved list. They are now charging me a separate fee for the legal aspects of the RBS mortgage. Is this an additional conveyancing fee set by RBS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your solicitor is entitled to charge a fee for this. This charge is not dictated by RBS but by your Coombe conveyancer. Some firms on the RBS panel will levy ’dealing with mortgage’ fee and others do not.
I have decided to exercise my right to buy my property in Coombe off the council. I have a mortgage agreed with Skipton. 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 use 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 Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I used Wolstenholmes a few years ago for my conveyancing in Coombe. Now, I need the documents but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Coombe of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Coombe differ for new build properties?
Most buyers of new build property in Coombe contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Coombe typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Coombe or who has acted in the same development.
I am using a search engine for the words on line conveyancing in Coombe it shows results of numerous solicitorsin the area. With so much choice what is the best way to find the right conveyancer for me?
The ideal method of seeking a suitable conveyancer is via personal recommendation, so seek the counsel of colleagues and those you trust who have acquired a property in Coombe or a respected estate agent or mortgage broker. Charges for conveyancing in Coombe vary, so it's sensible to secure at least four fee estimates from different conveyancers. Be sure to secure confirmation what costs in the quote includes.