I am nearing exchange of contracts for my apartment in Kidwelly and the estate agent has just text me to say that the buyers are switching property lawyer. The excuse is that the lender will only engage with solicitors on their approved list. On what basis would a major mortgage company only work with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Kidwelly ?
Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders justify this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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. Your purchasers are unlikely to have any sway in the decision.
I am need of leasehold conveyancing for an apartment in a fairly new development (6 years old) in Kidwelly. The vast majority the flats are already occupied. Do I need carry out the conveyancing searches for my conveyancing in Kidwelly?
If you are acquiring a property with the assistance of a loan, your lender will require some (many) of the searches so you'll have no choice. If not, then Kidwelly conveyancing searches are for you to decide upon. Your lawyer, will ’encourage’, perhaps strongly, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Kidwelly.
We are looking to buy a property and require a conveyancing solicitor in Kidwelly who is on the Nottingham solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nottingham . We don't recommend any particular firms conducting conveyancing in Kidwelly.
My Conveyancer in Kidwelly is not listed on the Nationwide Building Society Conveyancing Panel. Can I still retain my prefered solicitor even though they are excluded from the Nationwide Building Society panel?
Your options are as follows:
- Carry on with your existing Kidwelly lawyers but Nationwide Building Society will need to retain a solicitor on their panel. This will result in additional overall legal fees and result in delays.
- Choose a new solicitor to act in the conveyancing, not forgetting to check they are Nationwide Building Society approved.
- Persuade your Nationwide Building Society solicitor to attempt to join the Nationwide Building Society panel
My husband and I are purchasing a four bedroom maisonettein Kidwelly with a loan from a mortgage company. We would like to retain our solicitor in Kidwelly however our mortgage company says she’s not approved on their "panel". We have to appoint from the our bank panel solicitors or keep our Kidwelly solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage company home loan issued is subject to its terms and conditions, one of which will be that solicitors will on the bank's conveyancing panel. in the past, most lenders had open panels, including most conveyancing solicitors in Kidwelly : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for your bank.