I am selling my ground floor flat in Stone and the EA has just text me to advise that the buyers are swapping conveyancer. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Stone ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks blame a rise in fraud as the reason for the reduction – criteria have been stiffened 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 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. Your buyers are not going to have any sway in the decision.
Why is leasehold purchase conveyancing in Stone costs more?
The conveyancing charges on a leasehold property in Stone is inevitably greater as compared to a freehold residence. This is because there is an amount of supplemental investigations required in corresponding with the landlord and management company to collate the evidence about whether the rent and maintenance fee have been paid and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
I am purchasing a property and need a conveyancing solicitor in Stone who is on the Alliance & Leicester conveyancing. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Alliance & Leicester in certain locations such as Stone. We dont recommend any particular firm.
Can you point me to a directory of Nottingham panel solicitors in Stone on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings available online. If you are seeking to appoint a Stone solicitor on the Nottingham please make the most of our tool.
Completion of my purchase has taken place for my property in Stone. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
After what feels like an age I have had an offer on a maisonette in Stone agreed to, but there is a chain. The owners have put an offer on a flat, however it’s not yet agreed to, and have viewings of other properties booked. I have selected a high street conveyancing solicitor in Stone. What should be my next step? At what point should I apply for the mortgage with Barclays?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then survey, Stone conveyancing search fees, etc). The first thing to do is check that your lawyer is on the Barclays approved list. Regarding the subsequent steps this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. During a buoyant market many buyers would apply for a home loan with Barclays and pay for the valuation and only if it was satisfactory would they pay their property lawyer to move forward with searches.
I'm remortgaging my primary house to a buy to let mortgage with Chelsea Building Society and I will use the ballance of the raised equity as a down payment on another house. The location we are interested in is Stone. Will your lawyers be able to act for both sets of banks and tie in the conveyances?
Do use our search tool on this page to be sure that the solicitors are approved by both banks. Having checked that they are the lawyer should be able to simultaneously deal with the two deals but you should talk with you solicitor and specify your desired outcome and requirements.
I am using a search engine for the term cheap conveyancing in Stone it reveals many solicitorsin the area. How do I determine which is the right property lawyer for me?
The preferential method of seeking the right conveyancer is via trusted referral, so ask friends and those you trust who have bought a property in Stone or a reputable estate agent or financial adviser. Charges for conveyancing in Stone vary, so it's advisable to secure a minimum of three quotes from varying types of property lawyers. Make sure that you clarify what costs in the quote includes.