I am nearing exchange of contracts for my ground floor flat in Wilton and the EA has just e-mailed to advise that the buyers are swapping law firm. The reason given is that the lender will only engage with property lawyers on their approved list. Why would a major mortgage company only work with specific law firms rather the firm that they want to appoint for their conveyancing in Wilton ?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. 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. The purchasers are not going to have any sway in the decision.
It is 10 years ago since I bought my house in Wilton. Conveyancing lawyers have now been appointed on the sale but I can't track down my title documents. Will this jeopardise the sale?
You need not be too concerned. First there is a possibility that the deeds will be with the mortgage company or they could be archived with the lawyers who handled the purchase. Secondly in most cases the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Most conveyancing in Wilton involves registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Wilton so that I can pop in to their offices if required.
Most conveyancing panel lawyers for banks carry out their communications through Royal Mail, internet or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in the country. Nevertheless you can see if you can still book an appointment to visit conveyancing lawyer if you prefer.
Are all Wilton Conveyancing Quality Solicitors on the RBS conveyancing list of approved solicitors?
Some major banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership 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 firms wishing to join their panels.
The formalities of my remortgage has taken place for my property in Wilton. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Our sealed bid on a semi in Wilton has been accepted, the owners do however have a tied purchase. The owners have placed an offer on on an apartment, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have chosen a high street conveyancing solicitor in Wilton. What should be my next step? At what stage should I apply for the mortgage with HSBC?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of one thousand pounds, then valuation, Wilton conveyancing search fees, etc). First, you should check that your conveyancer is on the HSBC conveyancing panel. Concerning the next steps this very much dictated by the specifics of your transaction, attraction to this property and on the state of the market. During a buoyant market the majority of home buyers would apply for a home loan with HSBC and arrange for the valuation and only if it was satisfactory would they ask their property lawyer to press on with searches.
I need some quick conveyancing in Wilton as I am under a deadline to exchange contracts inside 2 weeks. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a cash buyer you have the choice not to do searches although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Wilton the following are instances of issues that can be revealed and adversely affect future saleability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...
I have justbeen informed that Action Conveyancing have closed. They conducted my conveyancing in Wilton for a purchase of a freehold house 18 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wilton conveyancing specialists.