Am I correct in assuming that the fact that my conveyancer in Hillsborough is not identified on my bank's conveyancing panel that there is a problem with the standard of his conveyancing?
That is most likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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. Should you be concerned you should simply call the Hillsborough conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I am due to complete on the purchase of a house in Hillsborough but as a consequence of wreckage from some water damage at the property I have managed to agree reparation from the owner of £3k by way of a reduction in the price. This was going to be addressed as part of a side agreement yet Bank of Ireland will not permit this. Should they have been informed?
The property lawyer that is on the Bank of Ireland approved list is required to inform Bank of Ireland of any amendments to the sale price. If you prohibit your conveyancing practitioner to disclose the price change to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new conveyancing practitioner for your conveyancing in Hillsborough.
We wanted to use a conveyancing solicitor in Hillsborough for our house move. Our financial adviser has since notified us that our mortgage lenders Godiva Mortgages Ltd won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most mortgage companies had an appetite for risk which was higher than today. Almost all Hillsborough conveyancing firms would have been on many mortgage company panels. The FSA in 2010 completed a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies 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 number of conveyancing. Many Hillsborough conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Hillsborough is amongst the hundreds of locations where the conveyancers we list are are authorised to act for Godiva Mortgages Ltd.
My father has suggested that I appoint his conveyancing solicitors in Hillsborough. Should I use them?
There are no two ways about it the best way to choose a conveyancing solicitor is to get referrals from friends or family who have used the firm you're considering.
Our sealed bid on property in Hillsborough was accepted, but there is a chain. The vendors have submitted an offer on a property, although it’s not been accepted yet, and are looking at other apartments booked. I have selected a nearby conveyancing lawyer in Hillsborough. What do I do now? When should I get the mortgage application with Co-operative started with Co-operative?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Hillsborough conveyancing search costs, etc). The first thing to do is check that your conveyancer is on the Co-operative conveyancing panel. As to the next steps this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. During a hot market many buyers will apply for a home loan with Co-operative and pay for the survey and only if it comes back ok would they pay their lawyer to move forward with searches.