I am progressing with the sale of my apartment in Newton-le-Willows and the estate agent has just called to warn that the buyers are changing their property lawyer. The excuse is that the lender will only work with solicitors on their conveyancing panel. Why would a major lender only work with specific solicitors rather the firm that they want to select to handle their conveyancing in Newton-le-Willows ?
UK lenders have always had an approved set of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders justify this action to a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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 not going to have any impact on this.
Would the conveyancing solicitors that you recommend carry out right to buy conveyancing in Newton-le-Willows?
We work with a variety of conveyancing solicitors who can handle right to buy conveyancing matters Please call the conveyancers listed in order to obtain a conveyancing quote.
At what point does exchange of contracts happen for sale conveyancing in Newton-le-Willows and do I need to attend the solicitors office?
If you are near to our conveyancing solicitors in Newton-le-Willows you are welcome to attend to sign documents. That being said, the law practices we recommend provide a countrywide conveyancing service and provide as equally diligent and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the conveyancer to address the formalities at the suitable time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Newton-le-Willows)to be in the office available at the end of the phone to exchange contracts.
My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Newton-le-Willows. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?
Where you intend to refinance then Clydesdale will require that you use a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
Please help - my lawyer advises that flying freehold insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Newton-le-Willows?
The appropriate level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Yorkshire Building Society and Coventry Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
We previously appointed solicitors located in Newton-le-Willows on the Bank of Ireland solicitor panel. They are now charging me a separate amount for dealing with the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner may charge a fee for this. The fee is not set by Bank of Ireland but by your Newton-le-Willows lawyer. Numerous firms on the Bank of Ireland panel will charge ’dealing with mortgage’ fee and others do not.
Completion of my purchase has taken place for my property in Newton-le-Willows. Conveyancing was a necessary evil but I would like to complain 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 Services Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Various internet forums that I have visited warn that are a common cause of delay in Newton-le-Willows conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Newton-le-Willows.