Am I correct in assuming that the fact that my conveyancer in Meliden is not listed on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
That is more than likely an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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. If you are concerned you should contact the Meliden conveyancing practice and ask them why they are no longer on the approved list for your lender.
My Solicitor in Meliden has never been on on the The Mortgage Works Conveyancing Panel. Can I still retain my prefered solicitor notwithstanding that they are not on the The Mortgage Works list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Meliden solicitors but The Mortgage Works will need to use a lawyer on their panel. This will result in additional total conveyancing charges as well as cause frustration.
- Get a new solicitor to to deal with the purchase, not forgetting to check they are The Mortgage Works approved.
- Persuade your The Mortgage Works based solicitor to attempt to join the The Mortgage Works panel
A friend advised me that where I am buying in Meliden I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Meliden conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Meliden around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Meliden Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Meliden Education with maps and statistics, Local Amenities and other useful information concerning Meliden.
I am using a search engine for the phrase on line conveyancing in Meliden it shows results of many property lawyersin the area. How do I determine which is the suitable solicitor for purchase transaction?
The ideal method of choosing the right conveyancer is via trusted testimonial, so seek the opinion of colleagues and relatives who have acquired a property in Meliden or the respected estate agent or mortgage broker. Costs for conveyancing in Meliden vary, so it's a good idea to obtain a minimum of three fee calculations from different property lawyers. Be sure to secure confirmation that the fees are fixed.
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 telephoned the bank to progress the mortgage application. I was shocked to discover that mortgage lenders do not accept all property lawyer, they need to be on their approved list, is this correct?
Banks tend to imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example 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 Meliden conveyancing practitioner 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? Presumably not.