I am not well enough to travel far from Radcliffe. I would like to know the logic why all Radcliffe solicitors aren't included on all lender panels?
Before the recession most mortgage companies had an approach to risk which is different than today. The FSA in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. Accordingly, banks have subsequently looked to extract more data from law firms concerning their operations and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum volume of transactions the mortgage companies insisted on.
Our lender has recommended a law firm on their panel based in Radcliffe but I would rather instruct a conveyancing lawyer in Radcliffe or nearer to where I live. Are you able to assist?
The minority of Radcliffe conveyancing practices are on all banks conveyancing panel. Use the above find an approved solicitor tool to identify a Radcliffe conveyancing firm on the on the lender panel.
five months have elapsed following my purchase conveyancing in Radcliffe completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the advice of my in-laws I had a survey completed on a house in Radcliffe before retaining lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies may refuse to issue a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Radcliffe. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I instruct a Radcliffe conveyancing practitioner who is local to the property I am purchasing? We have a good friend who can carry out the conveyancing but her office is 400miles away.
The primary upside of using a local Radcliffe conveyancing firm is that you can attend the office to sign documents, hand in your ID and pester them where appropriate. Having local Radcliffe know how is a plus. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that must trump using an unfamiliar Radcliffe conveyancing solicitor just because they are local.