I am nearing exchange of contracts for my house in Rhuddlan and the estate agent has just e-mailed to say that the buyers are changing their conveyancer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their approved list. Why would a leading mortgage company only work with specific law firms rather the firm that they want to choose for their conveyancing in Rhuddlan ?
Mortgage companies have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. 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 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. Your purchasers are not going to have any sway in the decision.
We are looking to buy a flat and require a conveyancing solicitor in Rhuddlan who is on the Coventry BS conveyancing panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Rhuddlan.
Can you point me to a directory of Nationwide panel solicitors in Rhuddlan on the Building Society Association’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few banks make their panel listings open the public on the web. Where you are looking for a Rhuddlan conveyancing practitioner on the Nationwide please use our facility.
Is it the case that all Rhuddlan conveyancing solicitors on the Barclays conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
I was told four weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Rhuddlan is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Arc property Solicitors a few years ago for my conveyancing in Rhuddlan. I now require my file however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Rhuddlan of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Rhuddlan differ for new build properties?
Most buyers of new build residence in Rhuddlan come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Rhuddlan usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Rhuddlan or who has acted in the same development.