Me and my partner are purchasing a 1 bedroom flat in Sawston with a mortgage. We would like to retain our Sawston conveyancer, but the mortgage company advise he's not on their "panel". It seems we have no choice but to use one of the bank panel conveyancing practices or retain our Sawston solicitor as well as pay for one of their panel ones to represent them. We consider that this is inequitable; are we not able to demand that the lender use our Sawston conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Sawston conveyancing lawyer to apply to be on the conveyancing panel.
We are buying a brand new duplex in Sawston and my conveyancer is advising me that she has to the bank to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I would rather not prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am looking to buy a flat and require a conveyancing solicitor in Sawston who is on the The Royal Bank of Scotland solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Royal Bank of Scotland in certain locations such as Sawston. We dont recommend any particular firm.
Am I better off to use a Sawston conveyancing lawyer in close proximity to the house I am hoping to buy? I have an old university friend who can deal with the legal work but his firm is located approximately 350miles away.
The primary upside of using a local Sawston conveyancing firm is that you can attend the office to execute paperwork, deliver your identification documents and pester them if necessary. They will also have local intelligence which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that should surpass using an unfamiliar Sawston conveyancing lawyer just because they are round the corner.
My wife and I have instructed a Sawston conveyancing solicitor for our home move (novice purchasers) and have spotted in the terms and conditions that they are not governed by the FCA. Should I be worried or is that usually the case with conveyancing practitioner?
We can't see why they should be. Most conveyancing practitioner don't lend money. They should be governed by the SRA, who have stringent stipulations regulating monies held on client account.