Is the fact that my conveyancer in Dunmow is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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. Where you are concerned you should contact the Dunmow conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
I had intended to instruct a conveyancing solicitor in Dunmow for our house purchase. Our financial adviser informed us that our mortgage company Skipton Building Society won't deal with them. Surely this is unduly restrictive?
Before the recession most mortgage companies had a different appetite for risk. Almost all Dunmow conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms regarding their operations and the individuals who work for them and set certain criteria such a completing on a minimum volume of conveyancing. Many Dunmow conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Dunmow is one of the numerous areas where the solicitors we recommend are members of the panel for Skipton Building Society.
Due to the advice of my in-laws I had a survey completed on a property in Dunmow before retaining solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some lenders may refuse to issue a mortgage on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you contact us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Dunmow. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dunmow to see if the conveyancing will be more expensive.
I was advised by a number of estate agents in Dunmow to find a solicitor on your site. Is there a financial inducement for Estate Agents to recommend your services over alternative conveyancing organisations?
We don’t give any referral fee for pointing buyers and sellers our way. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are first time buyers - had an offer accepted, but the property agent informed us that the owners will only go ahead if we instruct their preferred solicitors as they need a ‘quick sale’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in Dunmow
We suspect that the owner is not behind this ultimatum. If they require ‘a quick sale', turning down a motivated buyer is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you are going to appoint your own,trusted Dunmow conveyancing firm - as opposed tothe ones that will give the negotiator at the agency a referral fee or hit his conveyancing targets set by senior management.