I am nearing exchange of contracts for my house in Laleham and the estate agent has just telephoned to warn that the purchasers are switching conveyancer. The reason given is that the bank will only deal with property lawyers on their conveyancing panel. Why would a major mortgage company only work with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Laleham ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders 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. 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. 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 impact on this.
Are the BSA planning on creating a searchable register to list law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Laleham?
We are not aware of any intention on the part of the BSA to promote such a search facility.
Are all Laleham Conveyancing Quality Solicitors on the Leeds Building Society conveyancing panel?
Some major lenders now utilise the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
We previously appointed solicitors based in Laleham on the Lloyds solicitor approved list. They are now charging me a further charge for dealing with the Lloyds mortgage. Is this an additional conveyancing fee specified by Lloyds?
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 levy a fee for this. The charge is not set by Lloyds but by your Laleham conveyancer. Plenty of firms on the Lloyds panel will quote ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
I had a mortgage agreed in principle with TSB. Laleham conveyancing lawyers have been selected. How long does it take for TSB to send the offer to the conveyancer?
There is no definitive answer here. Have TSB done the survey? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in Laleham? or Apparently there is a law dating back centuries that means some homeowners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this a legitimate concern for conveyancing in Laleham?
Unless a prior purchase of the property took place post 12 October 2013 you may expect conveyancing practitioners handling conveyancing in Laleham to remain encouraging a chancel search and or chancel repair liability policy.
I am purchasing my first flat in Laleham with the aid of help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The property agent told me not inform my lawyer about the side-deal as it could jeopardize my mortgage with HSBC Bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Am I best advised to use a Laleham conveyancing solicitor based in the vicinity that I am buying? An old friend can execute the conveyancing however they are based a couple of hundredmiles away.
The benefit of a high street Laleham conveyancing practice is that you can drop in to sign documents, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and the majority were impressed that must outweigh using an unknown Laleham conveyancing lawyer just because they are round the corner.