I am five weeks into the sale of my apartment in Patcham and the estate agent has just telephoned to warn that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the bank will only work with solicitors on their approved list. On what basis would a big named mortgage company only deal with specific solicitors rather the firm that they want to choose to handle their conveyancing in Patcham ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Mortgage companies point to the increase in fraud as the reason for the pruning – criteria have been stiffened 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 hearing daily from firms that have been removed from panels. Plenty of firms 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 buyers are unlikely to have any sway in the decision.
Would the conveyancing practitioners listed on your site handle auction conveyancing in Patcham?
There are a few auction solicitors we can put you in touch with those specialising in auction conveyancing. Patcham is one of the many areas of where our lawyers have a presence.
I am purchasing a new build flat in Patcham. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Patcham you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Patcham.
I used Arc property Solicitors a few years past for my conveyancing in Patcham. Now, I need the files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 Patcham of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying my first flat in Patcham with a mortgage from The Mortgage Works. The builders would not move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my conveyancer about this side-deal as it could put at risk my mortgage with The Mortgage Works. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
At long last our conveyancing in Patcham is set to complete on Friday, but the couple I am purchasing from has asked to vacate on the Saturday at 2pm. Do I agree to this?
Where you need a bank loan then your conveyancer will require that the property isvacant on Friday - the mortgage company will compel it.