I am nearing exchange of contracts for my flat in Frant and the EA has just e-mailed to advise that the buyers are switching law firm. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a leading mortgage company only work with specific law firms rather the firm that they want to appoint for their conveyancing in Frant ?
UK lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. 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 hearing daily from firms that have been removed from panels. Plenty of firms 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 impact on this.
I am in the process of mortgaging my house in Frant, does my lawyer have to be on the RBS Conveyancing panel?
In theory, you could use a solicitor that is not on the RBS conveyancing panel, but RBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
My partner and I have arranged the release of further monies on our home loan from Clydesdale as we want to conduct improvements to our home in Frant. Do we need to select a bricks and mortar Frant solicitor on the Clydesdale conveyancing panel to deal with the legals?
Clydesdale don't usually instruct firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale list.
I am currently in the process of buying my council flat in Frant. I have a mortgage agreed with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I recently had an offer accepted on a house in Frant. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £150. Soon after, the solicitor contacted me embarrassingly acknowledging that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Do I need to take out insurance to cover chancel repairs when buying a property in Frant?
Unless a prior acquisition of the property took place post 12 October 2013 you could expect lawyers delivering conveyancing in Frant to remain encouraging a chancel search and or insurance against a claim.
I opted to have a survey carried out on a house in Frant prior to instructing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some banks may refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you contact us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Frant. Conveyancing may be slightly more expensive based on your lender's requirements.
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At this site obtain a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Frant. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you select them for your conveyancing in Frant