I am one month into the sale of my flat in Rufford and the estate agent has just text me to say that the purchasers are changing their law firm. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. Why would a big named mortgage company only deal with specific solicitors rather the firm that they want to select to handle their conveyancing in Rufford ?
Banks have always had panels of law firms that can act for them, but in recent 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.
Mortgage companies blame a rise in fraud as the reason 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 hearing daily from firms that have been removed from panels. Some 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 sway in the decision.
Our Rufford solicitor has discovered a discrepancy between the assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer says that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
A colleague suggested that where I am purchasing in Rufford I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Rufford conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Rufford around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Rufford Education with maps and statistics, Local Amenities and other useful information about Rufford.
How do I identify a Rufford solicitor on the Skipton Building Society conveyancing panel? I have wheels and am willing to travel upto 20kilometers to meet the conveyancer.
Feel free to make use of the facility on this website. Please choose the lender and your location and you will see a number of Rufford conveyancing lawyers located nearest you. We have detailed some Rufford conveyancing firms at the bottom of this page and you can call them to check if they are on the Skipton Building Society approved list
My cousin has encouraged me to instruct his conveyancing solicitors in Rufford. Do I take his recommendation?
Much as we are happy to recommend a Rufford conveyancing lawyer the ideal way to select a conveyancing practitioner is to seek recommendations from friends or relatives who have previously instructed the solicitor that you are considering.
When it comes to my conveyancing in Rufford should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Rufford conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.