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Find a Maryport Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Maryport? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Maryport transaction at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Maryport conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Maryport

Unfortunately I am unable to travel far from Maryport. What is the rationale as to why all Maryport solicitors aren't automatically on all lender panels?

A decade ago most lenders exhibited an approach to risk which is different than today. The Financial Services Authority in 2010 instigated a thematic review into fraud which in summary warned lenders: know the solicitors on your panel. Accordingly, lenders have since looked to extract more data from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Many firms have been excluded from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the minimum amount of transactions the lenders set.

The owners have rather assertive sellers who has insisted on a exclusivity contract with a non-refundable deposit of 5k. Are such agreements recommended for Maryport conveyancing transactions?

There are two main downsides with signing a lock out contract (sometimes referred to as a shut-out contract) is that it takes away the focus from making progress with the conveyancing process, so in the absence of it needing limited or no negotiation then it may turn out to be a hindrance. It is not particularly popular by Maryport conveyancing solicitors for this reason. A further negative is the extent of the remedies available - an aggrieved buyer is not likely to obtain an injunction to prevent the owner completing the sale to another buyer, so the only remedy available under the contract will be the recovery of wasted charges and, in restricted circumstances, the extra payment of damages.

Are the Maryport conveyancing solicitors identified as being on the UBS conveyancing panel, together with their details provided by UBS?

Maryport conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.

I am expecting a AIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Maryport solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?

You will need to appoint Maryport solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.

Completion of my purchase has taken place for my property in Maryport. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?

Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.

After months of negotiation I have agreed a price on a house in Maryport. My mortgage broker suggested a conveyancer. I paid an advanced payment of £200. Shortly after, the property lawyer called me to say that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

Our solicitor in Maryport has uncovered a defect with the lease for the flat we are buying in Maryport. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company?

Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Maryport conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the bank are the client. The appropriate lender requirements have to be complied with by the lender conveyancing panel who has to balance acting for you and the bank

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Maryport
Cockermouth
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