I am nearing exchange of contracts for my ground floor flat in Basildon and the EA has just text me to warn that the buyers are changing their law firm. The excuse is that the lender will only deal with property lawyers on their approved list. On what basis would a major lender only engage with certain law firms rather the firm that they want to select to handle their conveyancing in Basildon ?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions attribute this action to a rise in fraud as the reason for the reduction – criteria have been tightened 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 hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
Some advice if I may. My Basildon solicitor is informing me me that he has toapply for Basildon conveyancing searches asthe firm are on the Santanderconveyancing panel. Do I not have any say here?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Basildon conveyancing searches.
We're in Basildon, First timers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
There are plenty of conveyancing solicitors in Basildon but how do I know who's good?
We would encourage you not to base your choice on the lowest Basildon conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
My wife and I buying a victorian detached house in Basildon. The intention is to an extension at the rear at the house.Will the conveyancing process involve checks to determine if these works were previously refused?
Your property lawyer should review the deeds as conveyancing in Basildon will sometimes identify restrictions in the title deeds which prohibit certain alterations or need the consent of another owner. Certain works require local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
About to purchase maisonette in Basildon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Basildon solicitor is on the Clydesdale conveyancing panel.
Is it best to go with a Basildon conveyancing practitioner in close proximity to the house I am buying? We have a good friend who can carry out the conveyancing but her office is 200kilometers away.
The benefit of a local Basildon conveyancing firm is that you can attend the office to execute paperwork, present your identification documents and pester them where appropriate. Having local Basildon know how is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were impressed that should outweigh using an unknown Basildon conveyancing lawyer solely due to them being based in the area.