I am progressing with the sale of my house in Nechells and the EA has just text me to warn that the purchasers are changing their law firm. The reason given is that the bank will only engage with solicitors on their conveyancing panel. Why would a major lender only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Nechells ?
Lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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. The purchasers are unlikely to have any sway in the decision.
Having spent time researching moneysavingexpert.com for a recommended solicitor in Nechells, many comment that I should look for a CQS accredited lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing procedures via the scheme protocol Membership covers numerous firms who execute conveyancing in Nechells.
We are purchasing a house and the solicitor has referenced Chancel Repair to which the property could be obligated to pay given it’s proximity to the area of such a church. He has recommended insurance. Is this strictly warranted for conveyancing in Nechells
Unless a prior acquisition of the property completed after 12 October 2013 you may expect solicitors delivering conveyancing in Nechells to continue to advocate a chancel search and or chancel repair liability insurance.
How do I use your search tool to locate a conveyancing lawyer in Nechells on the panel for my lender?
Step one is to select a bank such as Barclays , Norwich and Peterborough Building Society or Platform Home Loans Ltd then choose your location a common one being Nechells. Conveyancing firms in Nechells and across England and Wales should be listed.
Is it best to instruct a Nechells conveyancing lawyer based in the vicinity that I am hoping to buy? An old friend can conduct the legal formalities but his firm is located 200kilometers drive away.
The benefit of a local Nechells conveyancing practice is that you can visit the firm to execute paperwork, present your identification documents and apply pressure on them if necessary. Having local Nechells know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were impressed that must trump using an unknown Nechells conveyancing lawyer solely due to them being Nechells based.