We are planning to buy a 1 bedroom flat in Marple with a mortgage. We have a Marple lawyer, but the bank advise he's not on their "panel". We have to appoint one of the bank panel solicitors or keep our Marple conveyancer as well as pay for one of their panel lawyers to act for them. We consider that this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Marple conveyancing solicitor to apply to be on the conveyancing panel.
We note that you have a post code search directory listing solicitors on the Nottingham conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Marple?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Marple.
My Conveyancer in Marple has never been on on the Barnsley Building Society Solicitor Panel. Can I still use my family solicitor even though they are not on the Barnsley Building Society list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your preferred Marple solicitors but Barnsley Building Society will need to retain a lawyer on their panel. This will result in additional total legal fees and result in frustration.
- Get a new solicitor to act in the purchase, obviously checking they are on the Barnsley Building Society panel
I am the sole beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Marple. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship will be regarded the same way as though I had purchased the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. Most banks would take a sensible view as this obligation chiefly exists to identify subsales or the wholesaling and assigning of properties.
Is it the case that all Marple conveyancing solicitors on the Bank of Ireland conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be regulated by the SRA. Many mortgage companies do list licenced conveyancers on their panel and in such a situation the organisation would be overseen by the CLC.
The formalities of my remortgage has taken place for my property in Marple. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Various web forums that I have come across warn that are the main cause of obstruction in Marple conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Marple.
When it comes to my conveyancing in Marple should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Marple conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.