I am not in a position to travel far from Hampton Wick. I would like to know the understand why all Hampton Wick conveyancers aren't automatically on all bank panels?
Banks tend to impose restrictions on either the type or the number of conveyancing solicitors on their panel. Typical examples of such criteria being that the organisation must have at least two partners. In addition to restricting the type of firm, some lenders made a decision to restrict the size of their panel they use to represent them. You should note that mortgage companies have no accountability for the accuracy of conveyancing provided by any Hampton Wick solicitor on their approved list. Mortgage fraud was the primary trigger for the rationalisation of conveyancing panels a few years ago even though there are conflicting points of view about whether solicitors sat at the center of that fraud. Data via HMLR indicates that thousands of law firms only carry out less than three conveyances a year. Those vindicating conveyancing panel cuts ask why conveyancing firms deserve claim to remain on a conveyancing panel when it is evident that conveyancing is not their primary expertise?
We are approaching an exchange on a flat in Hampton Wick and my mum and dad have sent the exchange deposit to my conveyancing practitioner. I am now told that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your conveyancing practitioner is obliged to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Do lenders provide you with an approved list of Hampton Wick conveyancing solicitors? How do you know who is on the Lloyds conveyancing panel?
Hampton Wick conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
My husband and I intend to purchase a newbuild apartment in Hampton Wick with a residential mortgage from Halifax.We use our Hampton Wick conveyancing practitioner but Halifax advised that she’s not listed on their "panel". It seems we have no choice but to instruct a Halifax panel lawyer or keep our preferred solicitor and pay for a Halifax panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Halifax use our lawyer?
No, not really. The home loan offered to you contains terms and conditions, one of which will be that conveyancers must be on the Halifax conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Halifax
We were going to get a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Hampton Wick solicitors on the Santander conveyancing panel, or is it better to go independently?
You will need to appoint Hampton Wick solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I'm spending time looking at apartments in Hampton Wick and I am about to put in an offer. Should I already have a solicitor in place at this point? I intend to finance via a home loan with Leeds Building Society.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are getting a mortgage with Leeds Building Society, make sure you remember to check that your lawyer is on the Leeds Building Society conveyancing panel.
Planning on purchasing a house in Hampton Wick. 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 Leeds Building Society 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 Hampton Wick conveyancing practitioner is on the Leeds Building Society conveyancing panel.
Despite weeks of looking the Title Certificate and documents to our house are lost. The solicitors who conducted the conveyancing in Hampton Wick 5 years ago have long since closed. What do I do?
As long as the title is registered the details of your proprietorship will be evidenced by the Land Registry under a Title Number. It is possible to perform a search at the Land Registry, locate your house and get current copies of the Registered Entries for a small fee. Where the property is Leasehold then the Land Registry will also normally retain a file duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.