I can't travel far from Stanley. Is there a reason why all Stanley solicitors aren't included on all bank panels?
Even though it may seem unfair for mortgage companies to limit who can act for them, from the public’s or solicitor’s perspective, the the contrary view is that banks are increasingly anxious and feel it crucial to protect them from illegal activities. As a result of this concern lenders have consolidated their panel of approved conveyancing lawyers to a size that they are happy to control.
In the event thatI was to purchase a straightforward propertyin Stanley for cash and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Stanley?
The only reduction in fees you would make on is the costs for searches. The conveyancer is required to do the vast majority of work - money laundering, correspond with your vendors conveyancer, stamp duty submission, register the property etc. A marginal saving might be made by not needing to register a mortgage however it will not be significant.
When it comes to lenders such as Clydesdale, do Stanley conveyancers have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Intending to buy a house in Stanley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stanley conveyancing practitioner is on the Lloyds conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Stanley is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
I was advised by a number of property agents in Stanley to find a solicitor using your seach tool. What’s the financial upside for Estate Agents to recommend your services over and above another?
We don’t make any commission for pointing buyers and sellers to this site. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Is it true that a Stanley conveyancing practice got sued by clients for failing to conduct the right conveyancing searches?
Our attention has not be brought to such a Stanley conveyancing matter but according to a recent report, clients buying a property in Cumbria successfully won a case against their lawyer as a consequence of development permission to build a wind farm failing to be picked up in conveyancing searches.
Where you are purchasing in Stanley It is important that your conveyancer carry out all Stanley conveyancing searches required to ensure you have relevant and current information ahead of acquiring a property.