I am progressing with the sale of my apartment in Newbridge and the EA has just called to say that the buyers are switching solicitor. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. Why would a big named lender only engage with specific law firms rather the firm that they want to appoint for their conveyancing in Newbridge ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
I am looking to buy a property and need a conveyancing solicitor in Newbridge who is on the Accord Mortgages Ltd solicitor. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Newbridge. We dont recommend any particular firm.
Should our lawyer be raising enquiries concerning flooding as part of the conveyancing in Newbridge.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Newbridge. There are those who acquire a house in Newbridge, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, but there are a numerous checks that may be undertaken by the buyer or by their conveyancers which should give them a better understanding of the risks in Newbridge. The standard property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the owner to find out if the property has historically flooded. If flooding has previously occurred which is not revealed by the owner, then a buyer could commence a claim for damages stemming from an inaccurate response. The buyer’s lawyers will also order an environmental report. This will indicate whether there is any known flood risk. If so, more detailed inquiries will need to be initiated.
I am 18 days into a leasehold purchase having been directed to solicitors by the high street agent to carry out the conveyancing in Newbridge. I am am extremely frustrated with the quality of service. Could you help me find new lawyers?
They would have to be very poor in order to consider changing them. Has your mortgage been sent? In the event that it has you need to inform them of the replacement conveyancer and have the mortgage documents are issued to the new lawyers. The solicitor ideally should be on the lenders panel to avoid escalating charges and frustration. So that should be your first question of the new lawyers. Our search tool can help you find a lender approved solicitor for your conveyancing in Newbridge
Your search tool is useful but there are many lawyers listed near Newbridge being on the lender conveyancing panel. Can you recommend a specific firm on the lender approved panel?
We are not in the business of recommending one firm above another as the right Newbridge conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Newbridge knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..