I am in the process of selling my house in Bournville and the EA has just text me to warn that the buyers are swapping property lawyer. The reason given is that the mortgage company will only engage with solicitors on their approved list. Why would a major mortgage company only engage with certain law firms rather the firm that they want to choose to handle their conveyancing in Bournville ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been narrowed 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 being contacted daily by practices 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. Your buyers are not going to have any sway in the decision.
Me and my partner are purchasing a house in Bournville. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to send our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
A friend informed me that in purchasing a property in Bournville there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in Bournville which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Bournville should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We had chosen conveyancers located in Bournville on the RBS solicitor approved list. They are now charging me a separate sum for dealing with the RBS mortgage. Is this an additional conveyancing fee set by RBS?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your property lawyer may levy a fee for this. This fee is not set by RBS but by your Bournville conveyancing practitioner. Plenty of firms on the RBS panel will charge ’dealing with mortgage’ fee and others do not.
How does conveyancing in Bournville differ for new build properties?
Most buyers of new build or newly converted property in Bournville contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Bournville usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bournville or who has acted in the same development.
How easy is it to transfer to a new firm as I need to appoint a firm on the Coventry Building Society conveyancing list. I had appointed a high street conveyancing solicitor in Bournville five minutes from me but he is not approved by Coventry Building Society
We will our best to assist in finding you a conveyancing solicitor in Bournville on the Coventry Building Society panel. Please note that the solicitors that we work with do not pay us commission if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Bournville. Using the find a conveyancing solicitor tool on this site, you can scrutinise fees for conveyancing solicitors in Bournville and beyond.
I am buying a property and require a conveyancing solicitor in Bournville who is on the mortgage company solicitor panel. Could you point me in the right direction as regards a Bournville solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who carry out conveyancing in Bournville. We dont recommend any particular firm.