My IFA has requested my Norbury solicitor’s panel member for the Nat West conveyancing panel. How do I find this out. I have tried my local Norbury branch but they have not got back to me yet.
Have you tried speaking to your Norbury conveyancing practitioner about this?. Most Norbury law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I had intended to instruct a property lawyer in Norbury for our house purchase. Our financial adviser has since notified us that our mortgage lenders Bank of Scotland won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most lenders had an appetite for risk which was higher than today. Almost all Norbury conveyancing firms would have been on most lender panels. The financial services regulator in 2010 carried out a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms concerning their operations and their employees and establishing certain criteria such a completing on a minimum volume of transactions. Many Norbury conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Norbury is one of the many areas where the conveyancers we list are members of the panel for Bank of Scotland.
Does a directory service exist listing Lloyds panel conveyancers in Norbury on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few banks make their panel listings viewable on the web. Where you are seeking to appoint a Norbury property lawyer on the Lloyds please use our tool.
I am expecting a OIP from Lloyds this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Norbury solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint Norbury solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Norbury solicitor on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
A colleague recommended that where I am purchasing in Norbury I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Norbury conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Norbury around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Norbury Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Norbury.
How simple is it to use the search facility to find a conveyancing solicitor in Norbury on the authorised to act for my bank?
First select a bank such as Birmingham Midshires, Barnsley Building Society or Britannia then choose your location for example Norbury. Conveyancing firms in Norbury and further afield should be listed.
Me and my wife are disposing of a Norbury apartment we inherited ten years ago in 2012. I have over ten years conveyancing experience and, now retired, intend to conduct my own legal work. The buyer's conveyancer has informed me that their bank will not allow us to do our own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Mortgage instructions to conveyancers from all mainstream lenders state that If the seller is not legally represented the buyer’s lawyers should check whether the bank needs to be told so that a decision can be made if they are willing to proceed.