Unfortunately I am unable to travel far from Duston. What is the rationale as to why all Duston lawyers aren't automatically on all bank panels?
Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to mortgage companies purging a number of firms off their books of approved conveyancing practitioners .
My Solicitor in Duston is not listed on the HSBC Bank Approved Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are excluded from the HSBC Bank panel of approved conveyancing solicitors?
The limited options available to you here include:
- Carry on with your preferred Duston lawyers but HSBC Bank will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the overall legal fees as well as result in frustration.
- Get an alternative lawyer to act in the conveyancing, obviously checking they are HSBC Bank approved.
- Persuade your HSBC Bank based solicitor to seek to join the HSBC Bank panel
We are aiming to move home in May. Should my conveyancing solicitor call the removal company on the completion day. On a separate note, can you put forward a removal company in Duston. Conveyancing firm was organised prior to coming across your page.
On the afternoon of completion you will need to collect the keys from your property agent however this should only take place once the sellers lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. After that you can advise the removal men that you are ready to move in. As a matter of policy we do not recommend a particular removal organisation but can help you locate a residential property solicitor in Duston or a lawyer with expertise in conveyancing in Duston.
We had instructed conveyancers locally in Duston on the Nationwide solicitor approved list. They have just billed me an additional fee for dealing with the Nationwide mortgage. Is this an additional conveyancing fee specified by Nationwide?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your lawyer is entitled to levy a fee for this. The charge is not dictated by Nationwide but by your Duston property lawyer. Some firms on the Nationwide panel will charge ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
I have a mortgage with Lloyds for my property in Duston. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Lloyds?
You must advise Lloyds before letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel firm.
I require expedited conveyancing in Duston as I am under pressure to complete inside one month. Luckily I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are are a cash purchaser you have the choice not to have searches carried out although no solicitor would suggest that you don't. With plenty of history conveyancing in Duston the following are instances of issues that can be revealed and therefore impact the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
Am I best advised to use a Duston conveyancing solicitor in close proximity to the house I am purchasing? We have a good friend who can handle the conveyancing however his firm is located over three hundred kilometers drive away.
The benefit of a high street Duston conveyancing practice is that you can visit the firm to execute paperwork, present your ID and pester them if necessary. They will also have local knowledge which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and the majority were content that must trump using an unfamiliar Duston conveyancing lawyer solely due to them being Duston based.