I am one month into the sale of my house in Ramsey and the estate agent has just called to advise that the buyers are switching solicitor. I am told that this is due to the fact that the lender will only engage with solicitors on their conveyancing panel. Why would a major mortgage company only engage with specific lawyers rather the firm that they want to choose to handle their conveyancing in Ramsey ?
Banks have always had panels of law firms they are willing to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders blame a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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. 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 not going to have any impact on this.
We're in Ramsey, FTBs purchasing with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We are buying a apartment in Ramsey. I might seem paranoid but how we can trust a conveyancer? On the day of competition we have to deposit our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in Ramsey. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Skipton be concerned?
Given that you are obtaining a mortgage with Skipton your lawyer must check the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Skipton. The CML Handbook contains minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Skipton where a lease does not comply with these specifications. The conditions relate to the installation of panels on properties nationwide and is not restricted to Ramsey.
We were going to get a OIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Ramsey solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Ramsey solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
The deeds to my home are lost. The conveyancers who did the conveyancing in Ramsey 10 years ago have long since closed. What are my options?
These day there are duplicates made of almost everything, and your lawyer will be aware precisely where to look for all the relevant documentation so you may purchase or sell your house without a hitch. Where copies are not available, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
Due to the encouragement of my in-laws I had a survey completed on a property in Ramsey prior to instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some lenders may refuse to grant a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ramsey. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ramsey to see if the conveyancing costs will increase in light of this.