I am not in a position to travel far from Bryncoch. I would like to know the logic why all Bryncoch lawyers aren't included on all mortgage company panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies pruning a number of firms off their panel of approved conveyancers .
My uncle passed away last year and as sole heir and executor I was left the property in Bryncoch. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
Given you intend to refinance then RBS will require that you use a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
What tools are available to locate a Bryncoch law firm on the Barclays Direct conveyancing panel? I have wheels and am willing to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the search on this page. Please select a bank and your location and you will see a number of Bryncoch conveyancing lawyers based on proximity. We have listed some Bryncoch conveyancing firms at the bottom of this page and you can contact them to verify whether they are on the Barclays Direct approved list
My brother has encouraged me to instruct his conveyancing solicitors in Bryncoch. Should I use them?
There are no two ways about it the best way to find a conveyancing solicitor is to have guidance from friends or family who have used the conveyancer you're considering.
Our conveyancer in Bryncoch has discovered a a problem with the lease for the property we are purchasing in Bryncoch. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.