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Find a Ferryhill Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Ferryhill? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Ferryhill conveyancing at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Ferryhill conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Ferryhill

I can't travel far from Ferryhill. I would like to know the reason why all Ferryhill property lawyers are not on all bank panels?

A decade ago most lenders demonstrated an attitude to risk which differs from the current day. The FSA in 2010 carried out a thematic review into property fraud which concluded: know the conveyancing practitioners on your panel. Consequently, banks have since looked to extract more information from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of amount of transactions the mortgage companies insisted on.

When does exchange of contracts happen for sale conveyancing in Ferryhill and do I need to attend the lawyers office?

If you are round the corner to one of the conveyancing solicitors in Ferryhill you are welcome to attend to sign documents. That being said, the firms we recommend supply a nationwide conveyancing service and provide as equally comprehensive and professional a job for you when communicating with you digitally. The executing of the contract is not the critical part. Signing on the dotted line is necessary for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ferryhill)to be in the office available at the end of the phone to exchange contracts.

Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial premises in Ferryhill?

Its becoming the norm that commercial conveyancing solicitors in Ferryhill will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Ferryhill. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Ferryhill.

For each commercial conveyancing transaction in Ferryhill it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Ferryhill commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Ferryhill.

My husband and I are first time buyers - agreed a price, but the estate agent has warned us that the owners will only proceed if we instruct their preferred lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Ferryhill

We suspect that the seller is not behind this request. Should the seller desire ‘a quick sale', alienating a serious buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are motivated purchasers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you will continue to instruct your preferred Ferryhill conveyancing solicitors - not the ones that will earn the negotiator at the agency a introducer fee or hit his conveyancing targets set by senior management.

We yesterday discovered that one of the partners of the firm acting on the purchase conveyancing in Ferryhill is a relative of the seller. Is this acceptable?

On the basis that there is no conflict of interest this is allowable. Where you are obtaining mortgage finance then the mortgage company may have a say as many banks have specific requirements on this. For example for RBS - Direct Line as of 13/1/2021, the requirements read as follows :

1.15- May your firm act if the person dealing with the transaction or a member of his immediate family is the borrower?

No, your firm may not act if the person dealing with the transaction or a member of his immediate family is the borrower. However, your firm may act if a separate fee earner or separate partner within the firm acts for us

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