I am progressing with the sale of my maisonette in Putney and the estate agent has just e-mailed to advise that the buyers are swapping conveyancer. The excuse is that the mortgage company will only work with solicitors on their approved list. Why would a leading mortgage company only work with specific law firms rather the firm that they want to select for their conveyancing in Putney ?
UK lenders have always had panels of law firms that can act for them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks attribute this action to a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise 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 have an AIP. The bank mentioned the loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather appoint a Putney based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" offer. Call the lender to explore if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Putney.
My bid for a property was accepted at auction in Putney. Conveyancing is necessary. What are my next steps?
Now that you have legally committed yourself to purchase you should retain a conveyancing solicitor quickly as you will have a fast approaching a drop dead date to complete the purchase. An auction property should have a bespoke legal set of papers. This will likely include most,if not all of the documents that your conveyancer will need. In the case of leasehold premises the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You must hand this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds organised to complete the transaction on the set completion date.
When it comes to lenders such as Principality, do Putney lawyers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I am due to exchange contracts on my flat. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Co-operative are being a right pain. The Putney solicitor who is on the Co-operative conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I need some fast conveyancing in Putney as I have pressure to complete in less than 3 weeks. A mortgage is not required. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are not getting a home loan you are at free not to do searches although no lawyer would recommend that you don't. With plenty of history conveyancing in Putney the following are examples of what can crop up and adversely impact the marketability of the property: Enforcement Actions, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
How difficult is it to transfer to a new firm as I need to retain a firm on the Nationwide Building Society conveyancing list. I instructed a local conveyancing solicitor in Putney five minutes from me but she is not accepted by Nationwide Building Society
We will our best to assist in finding you a conveyancing solicitor in Putney on the Nationwide Building Society panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Putney. In making use of search facility on this page, you can scrutinise fees for conveyancing solicitors in Putney and beyond.
What type of property do your Putney conveyancing estimates apply to?
Our conveyancing quotes are only applicable to standard residential property in England & Wales. Where you have any different requirements for instance industrial or agricultural property or commercial conveyancing in Putney please contact us to address this further .