I am progressing with the sale of my home in Heathrow and the estate agent has just text me to warn that the purchasers are switching conveyancer. I am told that this is due to the fact that the bank will only work with property lawyers on their approved list. Why would a leading mortgage company only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Heathrow ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. 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. Plenty of firms do not even realise 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 not going to have any sway in the decision.
We previously instructed solicitors with offices in Heathrow on the Coventry BS solicitor panel. They are now charging me a separate amount for handling the Coventry BS mortgage. Is this a supplemental conveyancing fee specified by Coventry BS?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor can levy a fee for this. The charge is not dictated by Coventry BS but by your Heathrow conveyancer. Plenty of firms on the Coventry BS panel will levy ’dealing with mortgage’ fee but many practices include it on their overall fee.
The formalities of my purchase has taken place for my property in Heathrow. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
After weeks of negotiation I have agreed a price on a house in Heathrow. My mortgage broker pressured me to appoint their property lawyer. I paid an on account payment of £225. A couple of days later, the lawyer contacted me sheepishly admitting that they were not on the Principality 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 Principality 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.
My partner and I are close to exchanging contracts on the sale of our home in Heathrow and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Heathrow lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed an internet conveyancing firm rather than a conveyancing solicitor in Heathrow. We have lived in Heathrow for 5 years we know of no issue. Should we contact our local Authority to get clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
How does conveyancing in Heathrow differ for newly converted properties?
Most buyers of new build residence in Heathrow come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Heathrow tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Heathrow or who has acted in the same development.
Hoping to buy a property located in Heathrow and I am already nervous. I couldn't find anything specific about Heathrow. Conveyancing will be needed in due course but do you know about the Heathrow area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Heathrow. In the meantime here are some basic statistics that we found
My wife and I have instructed a Heathrow conveyancing solicitor for our home move (FTB’s) and have spotted in the Ts and Cs that they are not governed by the FCA. Should I be concerned or is that usually the case with conveyancing practitioner?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who have strict obligations covering monies deposited in their bank.