I am nearing exchange of contracts for my house in Hayle and the estate agent has just telephoned to warn that the purchasers are appointing a new solicitor. The excuse is that the lender will only work with solicitors on their conveyancing panel. Why would a major mortgage company only engage with certain law firms rather the firm that they want to choose for their conveyancing in Hayle ?
Lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies attribute this action to a rise in fraud by way of justification for the cull – criteria have been tightened 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 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 purchasers are unlikely to have any impact on this.
My fiance and I intend to remortgage our apartment in Hayle with Bank of Ireland. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the Bank of Ireland conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Bank of Ireland conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland. This is solely used to protect Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Please explain the implications if my lawyer’s firm is expelled from the Aldermore Solicitor panel ahead of completing my conveyancing in Hayle?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am purchasing a end of terrace house in Hayle. Our aim is to convert the garage to a playroom at the house.Will the conveyancing process involve investigations to see if these works are prohibited?
Your conveyancer will check the registered title as conveyancing in Hayle will occasionally identify restrictions in the title deeds which restrict certain works or need the permission of a 3rd party. Certain additions require local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these things with a surveyor ahead of any purchase.
Is there a list of Santander panel conveyancers in Hayle on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings visible online. Where you are looking for a Hayle conveyancing practitioner on the Santander please use our facility.
We had instructed conveyancers with offices in Hayle on the TSB solicitor approved list. They are now charging me a further amount for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee set by TSB?
Provided it is contained in their Terms and Conditions or estimate then yes your solicitor can levy a fee for this. The fee is not dictated by TSB but by your Hayle property lawyer. Numerous firms on the TSB panel will quote an ‘acting for lender’ fee but some practices include it on their overall fee.
Just acquired a detached house in Hayle , how long will it take for the Land Registry to record my proprietorship? My Hayle conveyancing solicitor works at snail pace, so I want to be certain that my ownership is recorded.
As far as conveyancing in Hayle registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can adjust depending on who lodges the application, whether there are errors and whether the Land registry communicate with any third persons or bodies. Currently approximately three quarters of submission are fully dealt with within 12 days but occasionally there can be protracted delays. Registration takes place after the new owner has moved in to the premises therefore an expedited registration is not usually top priority but where it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
Is it possible to transfer to a new solicitor as I need to find one who is on the Platform Home Loans Ltd conveyancing list. I instructed a family conveyancing solicitor in Hayle round the corner but he is not accepted by Platform Home Loans Ltd
We will our best to assist in finding you a conveyancing solicitor in Hayle on the Platform Home Loans Ltd panel. Please note that the solicitors that we list do not pay us a referral fee if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Hayle. In making use of the find a conveyancing solicitor tool on this page, you can scrutinise fees for conveyancing solicitors in Hayle and beyond.