I am not well enough to travel far from Leicestershire. Is there a reason why all Leicestershire solicitors aren't automatically on all mortgage company panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies culling less reputable firms from their panel of approved conveyancing practitioners .
Can the conveyancing practitioners indexed on your site carry out right to buy conveyancing in Leicestershire?
We have identified numerous conveyancing specialists who can conduct right to buy transactions Do call us to secure a conveyancing quote.
Have purchased a a semi-detached house in Leicestershire , What is the estimated time for the Land Registry to register my ownership? My Leicestershire conveyancing solicitor works at snail pace, so I want to check the land registry aspects are concluded.
There is nothing unique about conveyancing in Leicestershire registration formalities. Rather than based on location, timeframes can adjust subject to who lodges the application, whether there are errors and whether the Land registry communicate with any third parties. As of today roughly three quarters of such applications are completed in less than three weeks but some can be subject to protracted hold-ups. Registration takes place after the new owner is living at the property thus an expedited registration is not always an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.
My cousin has suggested that I instruct his conveyancers in Leicestershire. Should I use them?
There are no two ways about it the best way to find a conveyancing lawyer is to seek referrals from friends or family who have actually previously instructed the firm you're considering.
My step-son is about to join the property ladder, the home loan was agreed last week in principle. When the offer was accepted on house we contacted the building society to progress the mortgage application. We were disappointed to learn that mortgage lenders do not accept all lawyer, they need to be on their approved list, is this legal?
Lenders tend to restrict either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Leicestershire property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.