I am one month into the sale of my house in Dolgellau and the EA has just telephoned to advise that the buyers are switching property lawyer. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major lender only deal with certain solicitors rather the firm that they want to choose for their conveyancing in Dolgellau ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose 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 purchasers are unlikely to have any impact on this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Dolgellau? Is this really warranted?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Terms and Conditions that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you refuse to supply ID verification documents, your lawyer will not be able to take you on as a client.
Are the BSA planning on creating a search tool with a view to to identify law firms on the Loughborough BS conveyancing panel for example in Dolgellau?
We are not aware of any plans on the part of the BSA to promote such a search facility.
I am due to move house in October. Does my conveyancing solicitor liaise with the removal company on the completion day. Incidentally, can you recommend a removal company in Dolgellau. Conveyancing lawyer was chosen before I stumbled across your website.
On the afternoon of completion you can collect the house keys from your selling agent however this should only occur after the vendors lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You will need to advise the removal men that they can start moving you in. We do not suggest a particular removal organisation but can assist you in choosing a residential property solicitor in Dolgellau or a solicitor that specialises in conveyancing in Dolgellau.
When it comes to mortgage companies such as HSBC, do Dolgellau conveyancing practitioners face a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I have finally had an offer on a flat in Dolgellau accepted, the vendors do however have a connected purchase. The sellers have placed an offer on a flat, however it’s not yet agreed to, and have viewings of other apartments booked. I have chosen a local conveyancing solicitor in Dolgellau. What should be my next step? At what stage do I apply for the mortgage with RBS?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Dolgellau conveyancing search fees, etc). First, you must ensure that your solicitor is on the RBS approved list. Concerning the subsequent stages this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. In a rising market many home buyers will apply for the mortgage with RBS and pay for the valuation and only if it was satisfactory would they request their solicitor to proceed with searches.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Dolgellau. I've discover a site which looks to be the ideal answer If it is possible to get all this stuff completed via phone that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I note that you have a post code search directory identifying law firms on the lender conveyancing panel. Do Dolgellau conveyancing companies pay you a referral fee if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Dolgellau.