I am in the process of selling my ground floor flat in Pelsall and the estate agent has just called to say that the buyers are swapping conveyancer. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in Pelsall ?
Banks have always had an approved set of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal 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 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Pelsall is the location of the property. Can you shed any light on this issue?
Flying freeholds in Pelsall are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pelsall you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pelsall may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I have been advised by numerous property agents in Pelsall to locate a property lawyer on your site. Is there a financial incentive for Estate Agents to offer your services rather than alternative conveyancing organisations?
We refuse to make any financial incentive for directing people our way. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I am thinking of appointing a conveyancing lawyer in Pelsall for my remortgage. Is there any facility to review a solicitor's complaints history with the legal regulator?
You may search for documented Solicitor Regulator Association (SRA) determinations arising from investigations started on or after 1 January 2008. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA may monitor call for training requirements.
I am purchasing a house and cash is in place. My conveyancer has been given with two distinct forms of photo identification, bank statement, endless utility bills. Now he requires a copy from a probate lawyer stating that the money is in order and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Pelsall conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.