I am 4 weeks into the sale of my home in Harrow and the EA has just text me to warn that the buyers are switching law firm. The excuse is that the mortgage company will only engage with solicitors on their approved list. Why would a big named mortgage company only engage with specific lawyers rather the firm that they want to select for their conveyancing in Harrow ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been tightened 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 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. Your buyers are unlikely to have any sway in the decision.
Completed the sale of my flat in Harrow last February but the buyer keeps Skype messaging daily to say his conveyancer needs to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your sale your lawyer is obliged to forward the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Where relevant, your solicitor must also send confirmation that the mortgage has been paid off to the purchasers lawyers. There are no post completion requirements unique to conveyancing in Harrow.
Do I have to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Harrow so that I can pop in to their offices if necessary.
Most approved lawyers for lenders undertake the vast majority of communications through Royal Mail, internet or over the phone. This enables them to carry out the conveyancing transaction regardless of where you live in the country. Nevertheless you should check if you have the option of going to the offices of your conveyancing lawyer if needed.
Various internet forums that I have frequented warn that are the number one reason for stalling in Harrow house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Harrow.
Me and my brother purchased a semi-detached Edwardian house in Harrow. Conveyancing practitioner acted for me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the exact same property. Is it worth asking Barnsley Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Harrow and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing lawyer who conducted the conveyancing.
How up-to-date is your database of lawyers on the bank conveyancing panel in Harrow? Do the mortgage companies send you an updated list?
Harrow firms and firms carrying out conveyancing in Harrow themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the lender directly.