I can't travel far from Thornaby. I would like to know the understand why all Thornaby conveyancers are not on all mortgage company panels?
A decade ago most lenders demonstrated an approach to risk which is different from today. The FSA in 2010 conducted a thematic review into property fraud which concluded: know the property lawyers on your panel. Accordingly, mortgage companies have subsequently looked to extract more data from law firms regarding their operations and the individuals employed by them and set certain criteria such as completing a minimum volume of transactions. Thousands of law practices have found themselves removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum volume of transactions the lenders set.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Thornaby. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 27/3/2025, the requirements read as follows :
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Thornaby?
There are many recorded licenced Conveyancers in Thornaby and Solicitor practices in Thornaby to choose from It is important to make clear that the two are regulated professionals specialising in the legal aspects of transferring property. They may both also deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Are all Thornaby Conveyancing Quality Solicitors on the Barclays conveyancing panel?
It is true that some lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
My wife and I are at the point of looking at houses in Thornaby and I am now considering a potential offer. Is it advisable to have my conveyancing practitioner on ‘stand by’? I am planning to take a mortgage with TSB.
It would be wise to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are seeking a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
Should our lawyer be raising questions about flooding as part of the conveyancing in Thornaby.
Flooding is a growing risk for lawyers dealing with homes in Thornaby. Plenty of people will purchase a property in Thornaby, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous searches that can be initiated by the purchaser or by their solicitors which should give them a better appreciation of the risks in Thornaby. The conventional set of information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to determine if the premises has historically flooded. In the event that the property has been flooded in past which is not revealed by the vendor, then a buyer may issue a legal claim for losses as a result of such an incorrect response. The buyer’s conveyancers should also carry out an enviro search. This will reveal if there is a recorded flood risk. If so, more detailed investigations should be carried out.
I got the keys to my apartment on 1 May and my personal details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Thornaby expressed confidence that it would be registered in less than a month. Are properties in Thornaby uniquely lengthy to register?
There is nothing unique about conveyancing in Thornaby registration formalities. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether it is in order and if the Land registry communicate with any interested parties. Currently approximately three quarters of submission are fully addressed in less than three weeks but some can be subject to extensive delays. Registration occurs after the buyer is living at the premises therefore an expedited registration is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
Much to my surprise my conveyancing solicitor in Thornaby has requested from me personal identification documents stating that this is part of his requirements as a solicitor on the bank Conveyancing panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Thornaby