I am in the process of selling my home in Fradley and the estate agent has just e-mailed to advise that the buyers are changing their conveyancer. The excuse is that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with certain lawyers rather the firm that they want to choose to handle their conveyancing in Fradley ?
Banks have always had panels of law firms that can represent them, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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 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 not going to have any sway in the decision.
Can you explain why leasehold purchase conveyancing in Fradley is more expensive?
The conveyancing fees for a leasehold property in Fradley is inevitably more expensive than on a freehold property. This is due to the supplemental time necessary in corresponding with the freeholder and management company to collate the information about whether the rent and maintenance charges have been discharged and whether there are any major works due in the near future on repairs or maintenance of the building.
How do I discover of the solicitor conducting my conveyancing in Fradley is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus spending £192.00 in further legal fees.
Feel free to make the most of the search tool on this site. Pick the lender and type ‘Fradley’ or your preferred area and you will see numerous conveyancers located in Fradley or near you.
It has been 4 months since my purchase conveyancing in Fradley concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How do I locate a Fradley law firm on the Godiva Mortgages Ltd conveyancing panel? I have a car and am willing to travel upto 10miles to meet the solicitor.
Feel free to make use of the search on this website. Please pick a lender and your location and you will see a number of Fradley conveyancing lawyers locally. We have listed some Fradley conveyancing firms towards the end of this page and you can call them to check whether they are on the Godiva Mortgages Ltd panel
My partner is buying a leasehold property in Fradley. Conveyancing quotes are coming in at around £1700. Is that reasonable?
The average fee last year for conveyancing in Fradley was £1,500 excluding Land Tax and HM Land Registry charges.