I am getting a mortgage with Halifax. I intend to use a Licensed Conveyancer in Queensbury. Does the Halifax Solicitor panel include Licensed Conveyancers?
The Halifax conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We wanted to use a conveyancing solicitor in Queensbury for our house move. Our financial adviser has since notified us that our mortgage company The Royal Bank of Scotland won't deal with them. Surely this is unfair competition?
Pre- 2008 most banks had an appetite for risk which was higher than today. Almost all Queensbury conveyancing firms would have been on many bank panels. The financial services regulator in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms relating to their operations and their employees as well as establishing certain criteria such a completing on a minimum number of conveyancing. Many Queensbury 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. Queensbury is amongst the hundreds of locations where the lawyers we recommend are are approved The Royal Bank of Scotland.
We are close to exchanging contracts on the sale of our home in Queensbury and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local conveyancer would know this is not the case. It does beg the question why the purchasers used a national conveyancing firm rather than a conveyancing solicitor in Queensbury. Having lived in Queensbury for many years we know that this is a non issue. Should we get in touch with our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Queensbury differ for newly converted properties?
Most buyers of new build premises in Queensbury contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Queensbury tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Queensbury or who has acted in the same development.
I opted to have a survey carried out on a property in Queensbury before appointing conveyancers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies may refuse to issue a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Queensbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Queensbury to see if the conveyancing will be more expensive.
I was advised by a few selling agents in Queensbury to find a conveyancer using your seach tool. What’s the financial inducement for Estate Agents to recommend your services ahead of alternative conveyancing organisations?
We don’t give any referral fee for sending work our way. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.