I am five weeks into the sale of my flat in Sawston and the estate agent has just e-mailed to warn that the purchasers are changing their conveyancer. The reason given is that the lender will only engage with solicitors on their approved list. Why would a big named lender only work with specific solicitors rather the firm that they want to choose for their conveyancing in Sawston ?
UK lenders have always had panels of law firms that can act for them, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Banks attribute this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say 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 are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.
Please could you suggest a The Royal Bank of Scotland allowed Sawston conveyancing solicitor finish our house move within two weeks? Would it be better to use a high street Sawston practice or a factory type firm?
We would be happy to suggest some excellent Sawston conveyancing firms. Another option is to visit the high street in Sawston. Go in to two or three firms and request to see a conveyancing solicitor for a quote. Explain your time frames together with the reasons and ask for an assurance on your deadline. Select the lawyer that genuine.
I have been told that property searches are the primary cause of hinderance in Sawston conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Sawston.
I am purchasing my first flat in Sawston with the aid of help to buy. The developers refused to move on the amount so I negotiated £7000 of extras instead. The estate agent advised me not disclose to my solicitor about the deal as it may affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it possible to switch conveyancer as I need to select one who is on the The Mortgage Works conveyancing panel. I instructed a family conveyancing solicitor in Sawston five minutes from me but the firm is not approved by The Mortgage Works
We will our best to assist in finding you a conveyancing solicitor in Sawston on the The Mortgage Works panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Sawston. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Sawston.