Am I correct in assuming that the fact that my conveyancer in Crayford is not on my bank's solicitor panel that there is a problem with the standard of her conveyancing?
That would more than likely be a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Crayford conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
We note that you have a post code search directory listing firms on the Leeds Building Society conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Crayford?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Crayford.
we are a couple who are hoping to buy a newbuild flat in Crayford with a homeloan from Lloyds TSB Bank.We would like to retain our Crayford conveyancing lawyer but Lloyds TSB Bank informed us she’s not on their approved list of member firms. We have to appoint a Lloyds TSB Bank panel lawyer or retain our preferred solicitor and pay for a Lloyds TSB Bank panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Lloyds TSB Bank use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that solicitors must be on the Lloyds TSB Bank approved list. in the past, most mortgage companies 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Lloyds TSB Bank
My wife and I are buying a house in Crayford. I might seem paranoid but how we can trust a solicitor? On completion day we will need to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with Coventry BS. I assume I don't need a Crayford conveyancer on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
About to purchase flat in Crayford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Crayford conveyancing practitioner is on the Lloyds conveyancing panel.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when buying a house in Crayford? or Apparently there is an ancient law that means some house owners residing in a parish church boundary may be liable to contribute towards maintenance towards the chancel in proximity to the church. Is this relevant for conveyancing in Crayford?
Unless a prior acquisition of the house completed post 12 October 2013 you can take it that conveyancing practitioners delivering conveyancing in Crayford to continue to propose a a chancel search and or chancel repair liability insurance.
My husband and I are buying a three room ground floor flatin Crayford with a residential mortgage from a mortgage company. We wish to instruct our lawyer in Crayford but our mortgage company advise she’s not listed on their "panel". It seems we have little choice but to instruct from the our bank panel solicitors or stay with our Crayford conveyancer and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our lender use our Crayford lawyer?
No, not really. The mortgage company mortgage issued is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. in the past, most mortgage companies had open panels, including most conveyancing solicitors in Crayford : a mortgagee 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your bank.