My husband and I are buying a 3 bedroom apartment in Shacklewell with a mortgage. We have a Shacklewell solicitor, but the lender says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Shacklewell lawyer and pay for one of their panel firms to represent them. We regard this is inequitable; can we not require that the bank use our Shacklewell conveyancing practitioner ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Shacklewell conveyancing solicitor to apply to be on the conveyancing panel.
How up to date is your search tool for Shacklewell conveyancing solicitors on the Virgin Money conveyancing panel? Do Virgin Money send you an updated list?
Shacklewell conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
I had intended to instruct a conveyancing solicitor in Shacklewell for our house purchase. Our broker has since notified us that our mortgage lenders The Royal Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
Banks normally restrict either the category or the volume of conveyancing firms on their member panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. As well as restricting the type of firm, a few lenders have decided to limit the number of firms they allow to represent them. You should note that The Royal Bank of Scotland have no responsibility for the quality of advice provided by any member of The Royal Bank of Scotland Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels since 2008 even though there are differing opinions about the extent of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Shacklewell only perform one or two conveyances a year.
Should my solicitor be raising questions regarding flooding as part of the conveyancing in Shacklewell.
The risk of flooding is if increasing concern for solicitors dealing with homes in Shacklewell. There are those who buy a property in Shacklewell, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Shacklewell. The standard information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the owner to find out if the property has ever been flooded. If flooding has previously occurred which is not disclosed by the seller, then a purchaser may commence a compensation claim as a result of such an inaccurate reply. A buyer’s solicitors will also order an enviro report. This should disclose whether there is a recorded flood risk. If so, additional inquiries should be conducted.
I need to instruct a conveyancing lawyer in Shacklewell for my sale. Can I check a solicitor's record with the legal regulator?
You may read documented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA may monitor call for training requirements.
Are Shacklewell conveyancing solicitors duty bound by the Law Society to supply transparent conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Shacklewell or or elsewhere in the country.