I am 4 weeks into the sale of my home in Totland and the EA has just e-mailed to warn that the purchasers are changing their solicitor. The excuse is that the mortgage company will only engage with solicitors on their approved list. Why would a leading mortgage company only deal with specific lawyers rather the firm that they want to choose to handle their conveyancing in Totland ?
Lenders have always had panels of law firms that can act for them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lending institutions blame a rise in fraud by way of justification for the pruning – 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 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. The purchasers are unlikely to have any impact on this.
I am looking to buy a house and need a conveyancing solicitor in Totland who is on the Aldermore approved. Can you recommend a local 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 Aldermore in certain locations such as Totland. We dont recommend any particular firm.
We are downsizing from our property in Totland and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street Totland conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed an internet conveyancing practice rather than a conveyancing solicitor in Totland. We have lived in Totland for many years we know that this is a non issue. Should we get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
How does conveyancing in Totland differ for newly converted properties?
Most buyers of new build property in Totland approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Totland typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Totland or who has acted in the same development.
How simple is it to use the search facility to find a conveyancing practitioner in Totland on the authorised to act for my lender?
Step one is to pick a lender such as Lloyds TSB Bank, Leeds Building Society or Aldermore then specify your preferred area for instance Totland. Conveyancing organisations in Totland and nationally will then be identified.
I previously advised by my mortgage company that their approved solicitors operate no completion no charge basis for conveyancing in Totland. My purchase aborted nevertheless the conveyancers have invoiced for search fees! They say the fees are seperate!
Totland conveyancing search charges are disbursements not legal costs as these are payable to a third party.