Is the fact that my solicitor in Bournville is not listed on my mortgage company's conveyancing panel that there is a problem with the standard of his conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Bournville conveyancing practice and ask them why they are no longer on the approved list for your bank.
I had intended to instruct a property lawyer in Bournville for our home move. Our broker has since advised us that our mortgage company Yorkshire Building Society won't deal with them. Surely this is unfair competition?
Lenders normally restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have reduced the number of solicitor practices they permit to represent them. You should note that Yorkshire Building Society have no responsibility for the quality of advice provided by any member of Yorkshire Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there remains differing opinions concerning the extent of solicitor involvement in some of that fraud. Data from the Land Registry indicate that plenty of law firms, including some in or near Bournville only execute very few conveyances per annum.
There are a variety of conveyancing solicitors in Bournville but how do I know who's good?
We would encourage you not to base your choice on the lowest Bournville conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. 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 the deal.
Is it correct that all Bournville CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?
Some major banks and building societies now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
My partner and I are spending time looking at flats in Bournville and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with Virgin Money.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
We are 18 days into a residential purchase having been referred to solicitors by the high street agent to execute conveyancing in Bournville. I am not happy. Can you you assist me in finding new conveyancers?
A solicitor would have to be really bad to suggest diss instructing them. Has your loan offer been generated? In the event that it has you need to inform them of the new conveyancer and have the mortgage documents are re-issued. Your new conveyancer should be on the lenders panel to avoid escalating fees and delays. So that should be your starting point. Our find a solicitor tool can assist you in finding a bank approved solicitor for your conveyancing in Bournville
Our lender agreed in principle to grant us a mortgage. We are using a local conveyancer in Bournville last week. A couple of hours ago, our broker phoned to advise us that the bank said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the lender had a say Is this permitted?
You can actually choose any lawyer you wish to choose including the said conveyancer in Bournville nevertheless if your lender aren't happy with them you must incur additional cost so your bank can retain their own conveyancer too. On occasion it is conceivable that your solicitor may apply to get included on to the bank list of approved firms. You can use online tools such as lenderpanel.com to find a conveyancing solcitor in Bournville on the bank panel. You can go into your local bank branch in Bournville. They will know some good conveyancing solicitors in Bournville on the approved list.