I am nearing exchange of contracts for my home in Hemel Hempstead and the estate agent has just text me to warn that the purchasers are changing their law firm. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only engage with specific lawyers rather the firm that they want to choose to handle their conveyancing in Hemel Hempstead ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. 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. 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 impact on this.
Please help. My Hemel Hempstead conveyancer is advising me that she is duty bound toorder Hemel Hempstead conveyancing searches stemming from the fact thatthe firm are on the Virgin Moneyapproved lawyer panel. Is my solicitor correct?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Hemel Hempstead conveyancing searches.
What happens if my solicitor is removed from the Skipton Solicitor panel ahead of completing my conveyancing in Hemel Hempstead?
First, 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 for a fee.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Hemel Hempstead?
There are many recorded licenced Conveyancers in Hemel Hempstead and Solicitor partnerships in Hemel Hempstead to choose from It is important to make clear that both are regulated professionals specialising in the legal work in the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I recently had an offer accepted on a house in Hemel Hempstead. My mortgage broker recommended their conveyancers. I paid an on account payment of £175. Soon after, the property lawyer called me to say that they were not on the Nationwide 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 Nationwide 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.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Clydesdale are being pedantic. The Hemel Hempstead solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Hemel Hempstead is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hemel Hempstead are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hemel Hempstead you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hemel Hempstead may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In my capacity as executor for the will of my uncle I am disposing of a house in Newport but reside in Hemel Hempstead. My conveyancer (approximately 250 miles awayneeds me to sign a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Hemel Hempstead who can witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Hemel Hempstead based