I am nearing exchange of contracts for my apartment in Mayfield and the EA has just e-mailed to warn that the buyers are changing their property lawyer. I am told that this is due to the fact that the lender will only work with solicitors on their conveyancing panel. On what basis would a big named lender only deal with specific lawyers rather the firm that they want to select to handle their conveyancing in Mayfield ?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. 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. The purchasers are unlikely to have any impact on this.
I am in the process of remortgaging my home in Mayfield, does my lawyer need to be on the Nationwide Solicitor panel?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We previously chose solicitors based in Mayfield on the Skipton solicitor approved list. They have just billed me a supplemental sum for the legal aspects of the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner can levy a fee for this. The fee is not set by Skipton but by your Mayfield property lawyer. Numerous firms on the Skipton panel will quote ’dealing with mortgage’ fee and others do not.
We have agreed to purchase a house in Mayfield. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
As you are obtaining a mortgage with Principality your lawyer must comply with the formal instructions set out in Part 2 of UK Finance Lenders’ Handbook for Principality. The CML Handbook contains minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Principality where a lease fails to meet these conditions. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Mayfield.
After months of negotiation I have agreed a price on an apartment in Mayfield. My financial adviser recommended their conveyancers. I paid an on account payment of £225. A couple of days later, the lawyer contacted me to say that they were not on the Skipton 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 Skipton 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 used Stirling Law several years past for my conveyancing in Mayfield. Now, I need my documents but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Mayfield of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Mayfield is where the house is located. Can you offer any guidance?
Flying freeholds in Mayfield are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mayfield you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mayfield may ascertain 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 residence.
We're new to the buying process - had an offer accepted, but the property agent told us that the vendor will only issue a contract if we appoint their preferred lawyers as they want a ‘quick sale’. Our preferred option is to instruct a local conveyancer who is accustomed to conveyancing in Mayfield
We suspect that the seller is unaware of this requirement. If they require ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Speak to the vendors direct and make sure they comprehend that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to appoint your preferred Mayfield conveyancing solicitors - not the ones that will provide the negotiator at the agency a commission or hit his conveyancing figures set by head office.