I am nearing exchange of contracts for my home in Tokyngton and the estate agent has just e-mailed to warn that the buyers are swapping property lawyer. The excuse is that the bank will only work with solicitors on their conveyancing panel. Why would a leading lender only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Tokyngton ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies blame a rise in fraud as the reason for the pruning – criteria have been tightened 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. 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 buyers are not going to have any sway in the decision.
When can the exchange of contracts happen for domestic conveyancing in Tokyngton and am I required to attend the lawyers office?
If you are in close proximity to our conveyancing solicitors in Tokyngton you are welcome to come in to sign contracts. However, the law practices we work with offer a nationwide conveyancing service and provide just as diligent and professional a job for you when communicating with you electronically. The signing of the sale agreement is not the critical part. Signing on the dotted line is just a prerequisite for the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Tokyngton)to be in the office available at the end of the phone to exchange contracts.
I happen to be the single recipient of my late father’s will with all property in now in my sole name, including the my former home in Tokyngton. The Tokyngton property was put into my name in March. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my property ownership may be considered the same way as though I had purchased the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some banks would take a practical view as this obligation is principally there to capture the purchase and immediately sell or the quick reselling of properties.
When it comes to mortgage companies such as Yorkshire BS, do Tokyngton lawyers incur an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Planning on purchasing a apartment in Tokyngton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Tokyngton conveyancing practitioner is on the Co-operative conveyancing panel.
I am looking to sell my home. My past lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Tokyngton if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Tokyngton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
I need to instruct a conveyancing solicitor in Tokyngton for my home move. Is there any facility to check a firm’s record with the profession’s regulator?
You can see presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator may monitor telephone calls for training reasons.
I'm buying a bungalow in Tokyngton. I have found my conveyancer's company on the CLC list, but I can't find my lawyer's name on the list. Should I be concerned?
Not all staff in the company must be listed by the regulator. Provided there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unqualified staff.