I am in the process of selling my maisonette in Bloomsbury and the EA has just e-mailed to say that the buyers are changing their conveyancer. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. Why would a leading lender only work with certain law firms rather the firm that they want to select for their conveyancing in Bloomsbury ?
UK lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to reveal 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. Plenty of firms 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 buyers are unlikely to have any sway in the decision.
I have been told that property searches are a common reason for obstruction in Bloomsbury conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Bloomsbury.
I have recentlybecome aware that Stirling Law have closed. They conducted my conveyancing in Bloomsbury for a purchase of a leasehold flat 18 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The quickest way to check if the property is registered to you, 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 Bloomsbury conveyancing specialists.
Is it possible to transfer to a new firm as I need to choose one who is on the Coventry Building Society conveyancing panel. I had appointed a local conveyancing solicitor in Bloomsbury round the corner but she is not approved by Coventry Building Society
We will our best to assist in finding you a conveyancing solicitor in Bloomsbury on the Coventry Building Society panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Bloomsbury. In utilising search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Bloomsbury.
My husband and I are FTB’s - agreed a price, yet the property agent told us that the owners will only proceed if we use the agent's preferred solicitors as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family solicitor with experience of conveyancing in Bloomsbury
We suspect that the seller is not behind this ultimatum. Should the vendor require ‘a quick sale', turning down a motivated buyer is going to damage their objectives. Bypass the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Bloomsbury conveyancing solicitors - rather thanthe ones that will give the estate agent a kickback or hit his conveyancing targets demanded by head office.