I am progressing with the sale of my maisonette in Alderley Edge and Wilmslow and the EA has just called to warn that the buyers are changing their property lawyer. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with specific law firms rather the firm that they want to choose for their conveyancing in Alderley Edge and Wilmslow ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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 unlikely to have any sway in the decision.
I sincerely hope you can assist me. My Alderley Edge and Wilmslow lawyer is assuring me that he is legally obliged toconduct Alderley Edge and Wilmslow conveyancing searches becausethe firm are on the Virgin Moneyconveyancing panel. Do I not have a choice here?
You have limited options available to you. As you are taking a mortgage with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Alderley Edge and Wilmslow conveyancing searches.
My wife and I have recently appointed a conveyancing solicitor in Alderley Edge and Wilmslow. I I am struggling to find out whether they are on the Chelsea Building Society conveyancing panel. Could you help?
You should contact the solicitor and enquire if they can act for the bank. Alternatively you should call Chelsea Building Society who may be able to help.
I moved into my house on 1 February and the transaction details is not yet registered. Need I be worried? My conveyancing solicitor in Alderley Edge and Wilmslow advises it will be dealt with inside ten days. Are properties in Alderley Edge and Wilmslow uniquely lengthy to register?
As far as conveyancing in Alderley Edge and Wilmslow registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether it is in order and whether the Land registry need to notify any third parties. As of today in the region of 80% of submission are fully dealt with in less than three weeks but occasionally there can be extensive delays. Historically registration occurs after the purchaser is living at the property so an expedited registration is not usually top priority but if there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.
Is it possible to swap conveyancer as I have to find a firm on the Godiva Mortgages Ltd conveyancing panel. I was using a high street conveyancing solicitor in Alderley Edge and Wilmslow five minutes from me but the firm is not accepted by Godiva Mortgages Ltd
It would be our pleasure to assist you select a conveyancing solicitor in Alderley Edge and Wilmslow on the Godiva Mortgages Ltd panel. Please note that the law firms that we work with do not pay us fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Alderley Edge and Wilmslow. In utilising the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Alderley Edge and Wilmslow.