My wife and I are planning to buy a 2 bedroom apartment in Farnborough with a mortgage. We like our Farnborough conveyancer, however the lender says she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Farnborough property lawyer as well as pay for one of their panel firms to represent them. This seems very unfair; are we not able to require that the mortgage company use our Farnborough conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Farnborough conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I are purchasing our first home. Our conveyancing practitioner has calledto check if we wish to order extra conveyancing searches. As novices we are clueless as to what's necessary for conveyancing in Farnborough
The scope of Farnborough conveyancing searches should be dictated entirely on the premises, the location, the likelihood of any of these risks, your familiarity of the locality and risks, your overall attitude to risk. What is important is that you properly understand what information each search could supply. Then you can make a decision if you personally think you need that search. Should you be unclear, ask the lawyer to guide you.
The Farnborough conveyancing solicitors that just started acting on my house acquisition in Farnborough have without warning shut down. I chose them because I had to have a lawyer on the Bank of Ireland conveyancing panel and my preferred Farnborough lawyer was not. I paid them 275 plus VAT on account. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Do I need to be suspicious that 3rd parties that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a High Street Farnborough conveyancing practice?
As with lots of professional services, often input from relatives can be extremely useful or valuable. Nevertheless there are lots of players in a conveyancing deal; estate agents, financial adviser and mortgage companies might all recommend solicitors to appoint. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but sometimes there might be a commercial relationship behind the recommendation. You have the discretion to appoint your preferred conveyancer. Don't forget that most lenders specify a panel list of conveyancers you must use for the mortgage aspect of your house move.
I am 17 days into a freehold purchase having been directed to solicitors by the high street agent to execute conveyancing in Farnborough. I am am very disappointed with the level of service. Can you help me find new lawyers?
A solicitor would have to be very bad in order to consider changing them. Has your mortgage offer been sent? If so you must inform them of the new contact details and ensure the mortgage documents are re-sent. The conveyancer needs to be on the mortgage company approved list to avoid escalating expenses and complications. So that should be your first question of the new solicitors. Our find a solicitor tool will help you find a lender approved lawyer for your home move in Farnborough