My husband and I are hoping to acquire a property in Frant and have appointed a Frant conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Bank of Ireland have this afternoon contacted us to advise us that there is now an issue as our Frant solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Frant solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
What is your number one tip for finding a conveyancing solicitor in Frant
Do not opt for the cheapest Frant conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
The formalities of my purchase has taken place for my property in Frant. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
My sealed bid on a house in Frant has been agreed to, but there is a chain. The sellers have put an offer on on an apartment, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have selected a nearby conveyancing solicitor in Frant. What should be my next step? At what point should I apply for the mortgage with Yorkshire BS?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then survey, Frant conveyancing search charges, etc). The first thing to do is ensure that your conveyancer is on the Yorkshire BS approved list. As to the next stages this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. In a buoyant market some purchasers would apply for the mortgage with Yorkshire BS and arrange for the valuation and only if it was satisfactory would they request their property lawyer to move forward with the conveyancing in Frant.
I have been told that property searches are a common cause of delay in Frant conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Frant.
Am I right to be concerned that third parties that I am dealing with are suggesting an internet conveyancing firm rather than a High Street Frant conveyancing practice?
As is the case with many service providers, often input from relatives can be very helpful. Yet there are many players in a conveyancing transaction; estate agents, financial adviser and mortgage companies may recommend solicitors to retain. On occasion the conveyancers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the recommendation. You are at liberty to select your preferred lawyer. Don't forget that the majority of lenders operate an approved list of law firms you must use for the mortgage related work in your transaction.
I am hoping to acquire a repossessed flat in Frant and the mortgagee in possession require completion inside a week. Can a conveyancer meet that timeframe? Am I best advised to use a high street Frant firm or an online conveyancer that professes to offer speedy conveyancing?
Visit your Frant high street. Go in to 3 companies and ask to talk to a conveyancing solicitor for an estimate. Discuss your situation and get a commitment on deadlines. Choose the firm that seems most efficient. Be sure to choose a conveyancer on the panel of conveyancing practitioners who can act for your lender.