I am in the process of selling my home in Kirkby Stephen and the EA has just telephoned to say that the purchasers are changing their law firm. The reason given is that the lender will only engage with property lawyers on their conveyancing panel. Why would a major lender only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Kirkby Stephen ?
Lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say 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 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 purchasers are unlikely to have any sway in the decision.
All was ready to move into my new home in Kirkby Stephen next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These requirements are not specific to conveyancing in Kirkby Stephen.
I am purchasing a right to buy a flat in Kirkby Stephen. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Kirkby Stephen you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Kirkby Stephen.
I decided to have a survey done on a house in Kirkby Stephen ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies tend refuse to give a mortgage on such a property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Kirkby Stephen. Conveyancing will be smoother if you use a solicitor in Kirkby Stephen especially if they are familiar with such properties in Kirkby Stephen.
I'm converting the mortgage on my primary property to a buy to let mortgage with TSB and intend to use the remaining equity as a deposit on further property. The neighborhood we are interested in is Kirkby Stephen. Will your solicitors be able to act for the two lenders and tie in the two deals?
Do use our search tool on this site to be sure that the lawyers are on the relevant lender panels. Having checked that they are the solicitor will be able to tie up the two deals but you should have a chat with you lawyer and make clear your expectations and requirements.
I have been sourcing a conveyancing practitioner in Kirkby Stephen for my home move. Can I check a solicitor's complaints history with the profession’s regulator?
Members of the public can review documented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator could monitor telephone calls for training requirements.