I am nearing exchange of contracts for my ground floor flat in Ollerton and the estate agent has just called to advise that the buyers are appointing a new conveyancer. The excuse is that the bank will only work with solicitors on their conveyancing panel. Why would a big named mortgage company only work with specific lawyers rather the firm that they want to select to handle their conveyancing in Ollerton ?
Banks have always had panels of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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 not going to have any sway in the decision.
There are plenty of conveyancing solicitors in Ollerton but how do I know who's good?
Do not opt for the cheapest Ollerton conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
I am currently in the process of buying my council flat in Ollerton. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Completion of my purchase has taken place for my property in Ollerton. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am close to exchanging contracts on the sale of our house in Ollerton and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A high street Ollerton lawyer would know that there is no such problem. It does beg the question why the buyers instructed an online conveyancing practice as opposed to a conveyancing solicitor in Ollerton. Having lived in Ollerton for three years we know of no issue. Should we contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I decided to have a survey carried out on a house in Ollerton ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend refuse to give a mortgage on such a home.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ollerton. Conveyancing may be slightly more expensive based on your lender's requirements.
Why can't I complete my conveyancing in Ollerton on Easter Monday?
This is due to the fact that on completion the funds needs to pass between the banks of the purchaser and owner’s conveyancing practitioner and at present this can only happen on a working day. So you can't complete on a saturday or sunday either.