Me and my fiance are buying a 1 bedroom apartment in New Forest with a mortgage. We like our New Forest conveyancer, but the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our New Forest conveyancing practitioner and pay for one of their panel ones to act for them. This feels very unfair; are we not able to demand that the lender use our New Forest solicitor ?
Unfortunately,no. Your mortgage offer 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. A further alternative is for your New Forest conveyancing lawyer to apply to be on the conveyancing panel.
I had intended to instruct a conveyancing solicitor in New Forest for our home move. Our broker has since advised us that our bank Aldermore won't deal with them. Why is this not regarded as unfair competition?
A decade ago most lenders had a different appetite for risk. Almost all New Forest conveyancing firms would have been on many mortgage company panels. The FSA in 2010 completed a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms regarding their operations and their employees and set certain criteria such a completing on a minimum amount of transactions. Many New Forest conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. New Forest is one of the many areas where the solicitors we recommend are are authorised to act for Aldermore.
Does a directory service exist listing Yorkshire BS panel solicitors in New Forest on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online. Where you are seeking to appoint a New Forest solicitor on the Yorkshire BS please use our facility.
Completion of my remortgage has taken place for my property in New Forest. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my New Forest bank branch on various occasions and was informed it wasn't a problem and they would lend. My New Forest conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your conveyancer has to follow the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I used Arc property Solicitors several years past for my conveyancing in New Forest. Now, I need the files however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 New Forest 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 element on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. New Forest is the location of the property. Can you offer any assistance?
Flying freeholds in New Forest are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in New Forest you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Forest 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 property.
My cousin has urged me to appoint his lawyers for conveyancing in New Forest. Do I follow his recommendation?
No doubt it’s preferable to select a conveyancing solicitor is to get referrals from friends or relatives who have actually previously instructed the conveyancer you're considering.