I am one month into the sale of my home in Horsham and the EA has just e-mailed to say that the purchasers are changing their solicitor. The reason given is that the lender will only deal with solicitors on their conveyancing panel. Why would a leading mortgage company only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Horsham ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been stiffened 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 claims that it is hearing daily from firms that have been removed from panels. Plenty of firms 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 sway in the decision.
Finally the sale completed on my house in Horsham last May yet the purchaser is e-mailing daily complaining that their solicitor is waiting to hear from mylawyer. What should my lawyer have done now that I have sold?
Following your house sale your lawyer is committed to deliver the transfer deeds and all supplemental paperwork to the buyer’s lawyers. If applicable, your lawyer should also confirm that the home loan has been repaid to the purchasers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Horsham.
Do I have to attend the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Horsham so that I can pop in to their offices when needed.
Most approved lawyers for lenders carry out the vast majority of work through Royal Mail, e-mail or over the phone. This means that they can undertake the conveyancing transaction no matter where you live in the country. That being said you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Horsham. Do I pick up the keys to the property on completion from my conveyancer? If this is the case, I will find a local conveyancing solicitor in Horsham?
On the day of completion you do not need to attend the conveyancers office in Horsham. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s solicitors, and shortly after the monies have arrived, you should be able to receive the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
Are all Horsham Conveyancing Quality Solicitors on the Kent Reliance conveyancing list of approved practices?
Some major lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
We had instructed conveyancing lawyers based in Horsham on the TSB solicitor approved list. They have just invoiced me an additional fee for handling the TSB mortgage. Is this an additional conveyancing fee set by TSB?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. This fee is not dictated by TSB but by your Horsham solicitor. Plenty of firms on the TSB panel will charge ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
I am looking for a ground for flat up to £235,500 and identified one close by in Horsham I like with open areas and station in the vicinity, however it's only got 49 years on the lease. There is not much else in Horsham for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
My husband and I are a couple of weeks into a residential purchase having been directed to a firm by the local agent to execute conveyancing in Horsham. We are not happy. Can you you assist me in finding new conveyancers?
A conveyancer would need to be really bad to suggest changing them. Has the mortgage been sent? In the event that it has you need to advise them of the new contact details and have the offer are issued to the new lawyers. Your new conveyancer needs to be on the lenders approved list to avoid supplemental charges and frustration. So that should be your starting point. The find a solicitor tool can assist you in finding a bank approved lawyer for your home move in Horsham