I am selling my apartment in Higher Kinnerton and the estate agent has just called to say that the purchasers are appointing a new solicitor. The reason given is that the lender will only work with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only engage with specific solicitors rather the firm that they want to choose for their conveyancing in Higher Kinnerton ?
Banks have always had an approved set of law firms they are content to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
The Higher Kinnerton conveyancing firm handling our Higher Kinnerton conveyancing has spotted an inconsistency between the assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he must ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do lenders provide you with an approved list of Higher Kinnerton conveyancing solicitors? How do you know who is on the Nottingham conveyancing panel?
Higher Kinnerton conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
We are close to exchanging contracts on the sale of our property in Higher Kinnerton and according to the buyers it appears that there is a risk of it being built on contaminated land. Any high street Higher Kinnerton lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used a factory type conveyancing firm as opposed to a conveyancing solicitor in Higher Kinnerton. We have lived in Higher Kinnerton for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Your search tool is useful but there are many lawyers listed near Higher Kinnerton being on the lender conveyancing panel. Can you recommend a specific firm on the conveyancing panel for our mortgage company?
We do not recommend specific Higher Kinnerton firms as the right Higher Kinnerton conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Higher Kinnerton knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..