I am not in a position to travel far from Reading. What is the rationale as to why all Reading solicitors are not on all bank panels?
Before the recession most lenders displayed an attitude to risk which is different than today. The financial regulator in 2010 carried out a thematic review into property fraud which concluded: know the conveyancing practitioners on your panel. Consequently, banks have since looked to extract more information from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Many law practices 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. Many firms were never going to meet the minimum amount of transactions the lenders insisted on.
Can conveyancing in Reading to be finalised in less than two weeks?
Where you are under time constraints to exchange we would recommend that your conveyancer is familiar with the location as they will make use of local connections and insight. It is even conceivable that they would have handled otherproperties in the same road. You would be best advised to use a Reading conveyancing lawyer. Second, double check that the lawyer is on the on the approved list for your mortgage company. It is said that 18% of Reading conveyancing transactions are held up or derailed after discovering a buyer’s solicitor was not on their mortgage lender’s member panel. In many cases this discovery resulted in the transaction being delayed by as much as three weeks. It is understood that this issue affects approximately 100,000 home sales annually. Many Reading conveyancing practices can not act for certain lenders so do check at the outset.
Can I use your services to recommend a Conveyancing solicitor in Reading even where I’m not buying or selling a house, for instance where I want to buy a shop in Reading with a loan from Alliance & Leicester ?
Our search tool is predominantly utilised to get a quote from domestic conveyancing solicitors in Reading but we have listed towards the bottom of this page some Reading commercial conveyancing firms. You will need to speak with the solicitors directly to check if they can also act for Alliance & Leicester
My bid for a property was accepted at auction in Reading. Conveyancing is required. What happens now?
Given that you have now exchanged you now have to choose a conveyancing lawyer soon as you are faced with a pending deadline in which to complete the transaction. Every auction property will have an associated legal set of papers. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You must hand this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that you have funds organised to complete the transaction on the set completion date.
is it true that all Reading solicitor firms on the Leeds Building Society conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
I recently had an offer agreed on an apartment in Reading. My financial adviser recommended their conveyancers. I paid an upfront payment of £225. Not long after, the conveyancer called me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
The deeds to our property can not be found. The solicitors who conducted the conveyancing in Reading 5 years ago are no longer around. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your solicitor will know exactly where to look for all the appropriate documentation so you can purchase or sell your property without any difficulty. Where duplicates can’t be found, your solicitor can put in place insurance or indemnities protecting you against future claims on your premises.