I am one month into the sale of my house in Southsea and the EA has just called to advise that the purchasers are changing their conveyancer. The excuse is that the bank will only engage with solicitors on their approved list. On what basis would a major mortgage company only work with certain lawyers rather the firm that they want to choose for their conveyancing in Southsea ?
Lenders have always had panels of law firms that can represent them, but in recent years big names such as Santander, have reviewed 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 as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that 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 unlikely to have any sway in the decision.
Can the conveyancing lawyers via your comparison service execute attended exchange conveyancing in Southsea?
We do have a number of conveyancing specialists carrying out attended exchanges. Do contact us to obtain a fee calculation and details as to dates.
What does my ID and proof of funds have anything to do with my conveyancing in Southsea? Why is this being asked of me?
Southsea conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement no older than three months).
Confirmation of source of monies is also necessary under the money laundering laws as solicitors are duty bound to ensure that the money you are using to purchase a property (whether it be the deposit for exchange or the full purchase price if you are buying mortgage free) has come from legitimate source (such as an inheritance) and is not the product of illegitimate activity.
Are the BSA planning on creating a online directory to to identify law firms on the Loughborough BS conveyancing panel for instance in Southsea?
Lexsure has not been advised of any intention on the part of the BSA to develop such a search facility.
Have just purchased a repossessed house at auction in Southsea. Conveyancing is needed. What happens now?
Given that you have now legally committed yourself to purchase you must instruct a conveyancing solicitor quickly as you will have a tight a fixed date to complete the deal. Every auction property should have an associated legal pack. This will likely include evidence of title and search results. If you have purchased leasehold premises the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You should hand this to the lawyer instructed by you ASAP. Do make sure that you have funds in place to complete on the date specified in the contract.
We have a mortgage agreed in principle with Clydesdale. Southsea conveyancing lawyers have been appointed. How long does it take for Clydesdale to forward the offer to the conveyancer?
There is no definitive answer here. Have Clydesdale done the valuation? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being pedantic. The Southsea solicitor who is on the Coventry BS conveyancing panel is recommending indemnity insurance as a solution but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
My partner has recommend that I appoint his conveyancers in Southsea. Do I follow his advice?
Much as we are happy to recommend a Southsea conveyancing lawyer it’s preferable to choose a conveyancing solicitor is to have referrals from friends or family who have previously instructed the conveyancer you're contemplating using.