I am in the process of selling my maisonette in Wickersley and the estate agent has just called to advise that the purchasers are swapping law firm. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only deal with certain solicitors rather the firm that they want to choose for their conveyancing in Wickersley ?
Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders blame a rise in fraud by way of justification for the reduction – criteria have been tightened 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. Some 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 not going to have any impact on this.
I am purchasing a property and need a conveyancing solicitor in Wickersley who is on the Skipton Building Society conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Skipton Building Society in certain locations such as Wickersley. We dont recommend any particular firm.
A friend pointed out to me me that in buying a property in Wickersley there may be a number of restrictions preventing external alterations to the property. Is this right?
There are anumerous of properties in Wickersley which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Wickersley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Wickersley solicitor firms on the Nottingham conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel in which case such practice would be governed by the CLC.
I am expecting a DIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Wickersley solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Wickersley solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
The deeds to our property are lost. The conveyancers who dealt with the conveyancing in Wickersley 5 years ago are no longer around. What are my options?
Nowadays there are copies made of almost everything, and your conveyancer should know exactly where to find all the appropriate documentation so you may buy or sell your house without any difficulty. If copies can’t be found, your conveyancer may be able to arrange cover in the form of insurance or indemnities against possible claims on your premises.
Due to the encouragement of my in-laws I had a survey completed on a house in Wickersley before retaining conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks tend not grant a loan on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wickersley. Conveyancing will be smoother if you use a solicitor in Wickersley especially if they are familiar with such properties in Wickersley.
Am I better off to use a Wickersley conveyancing solicitor in close proximity to the house I am purchasing? I have an old university friend who can conduct the legal work however her office is approximately 350kilometers drive away.
The benefit of a local Wickersley conveyancing practice is that you can attend the office to execute documents, hand in your identification documents and pester them if necessary. They will also have local knowledge which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were happy that must trump using an unknown Wickersley conveyancing solicitor just because they are local.