I am not well enough to travel far from County Durham. What is the rationale as to why all County Durham solicitors are not on all bank panels?
Pre- 2008 most mortgage companies had an attitude to risk which differs from the current day. The financial regulator in 2010 carried out a thematic review into fraud which in summary warned lenders: know the solicitors on your panel. Consequently, lenders have since looked to extract more information from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Many law practices have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum amount of transactions the lenders required.
We are purchasing a flat and require a conveyancing solicitor in County Durham who is on the Clydesdale conveyancing panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in County Durham.
How does conveyancing in County Durham differ for newly converted properties?
Most buyers of new build or newly converted property in County Durham contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in County Durham typically 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 conveyancers 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 County Durham or who has acted in the same development.
I'm remortgaging my existing home to a BTL loan with Lloyds TSB Bank and I will use the rest of the raised equity as a deposit on further property. The area we are interested in is County Durham. Will your conveyancers be able to act for both sets of mortgage companies and tie in the transactions?
Make use of our search tool on this page to be sure that the lawyers are approved by both banks. On the basis that they are the solicitor will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and communicate your desired outcome and needs.
Why do I have to send my solicitor with various items of identification before they can proceed with selling or purchasing a property in County Durham?
County Durham property lawyers are duty bound by the Law Society, Solicitors Regulation Authority, HM Land Registry and current AML Regulations to record that the have checked the identity of their clients. It will also be a condition of your lender where you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and date of birth.