I am 3 weeks into the sale of my ground floor flat in South Shields and the EA has just text me to warn that the buyers are switching law firm. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a leading lender only deal with specific lawyers rather the firm that they want to select to handle their conveyancing in South Shields ?
Banks have always had panels of law firms that can represent them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders point to the increase in fraud by way of justification 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. 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. Your purchasers are not going to have any sway in the decision.
As someone with no idea as to conveyancing in South Shields what is your top tip you can impart for the home moving process in South Shields
Not many law firms or advisers will tell you this but conveyancing in South Shields or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there is lots of opportunity for friction between you and others involved in the transaction. For example, the seller, selling agent and sometimes a bank. Appointing a law firm for your conveyancing in South Shields is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose interest is to protect your legal interests and to protect you.
Sometimes a potential adversary will try and convince you that you should follow their advice. For example, the estate agent may claim to be helping by suggesting your solicitor is wrong. Or your financial adviser may advise you to do take action that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties in the conveyancing process.
Is there a search tool that I can use to investigate if the solicitor carrying out my conveyancing in South Shields is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus paying £187.00 plus VAT in another set of legal costs.
You should make use of the search tool on this site. Please choose the lender and type ‘South Shields’ or your location and you will see numerous conveyancers offices in South Shields or by proximity to you.
The deeds to our house can not be found. The lawyers who dealt with the conveyancing in South Shields 10 years ago are no longer around. What do I do?
Nowadays there are copies made of almost everything, and your lawyer should know exactly where to find all the suitable documentation so you can buy or sell your house without a hitch. Where duplicates are not available, your solicitor may be able to put in place insurance or indemnities against future claims on the property.
In scouring the world wide web for the words cheap conveyancing in South Shields it brings up numerous property lawyersin the vicinity. How do I determine which is the right conveyancing solicitor for purchase transaction?
The ideal method of finding the right conveyancer is via trusted recommendation, so seek the guidance of friends and those you trust who have bought a property in South Shields or a local estate agent or mortgage broker. Charges for conveyancing in South Shields differ, so it's sensible to secure a minimum of four fee estimates from different companies. Dont forget to clarify that the costs are guaranteed not to to be inflated.
I have just placed an offer on an apartment in South Shields and the mortgage adviser that we are dealing with recommended his conveyancing practitioner. They quoted £800 excluding VAT and 3rd party costs. Does this sound like a good deal?
You should not rely on one estimate. One should seek like-for-like quotes for your conveyancing in South Shields. Then pick one that you are comfortable with and just as important, is on the approved list of the bank that you have applied for a mortgage from.