Unfortunately I am unable to travel far from Tewkesbury. I would like to know the reason why all Tewkesbury are not on all mortgage company panels?

Pre- 2008 most banks exhibited an approach to risk which differs from the current day. The FSA in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the on your panel. Accordingly, mortgage companies have subsequently requiredmore information from law firms regarding their processes and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Thousands of firms have found themselves removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of volume of transactions the lenders insisted on.

Some advice if I may. My Tewkesbury conveyancer is advising me that she is duty bound toconduct Tewkesbury conveyancing searches asthe firm are on the Lloydsconveyancing panel. These Tewkesbury searches cost a lot of money can this be avoided?

Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Tewkesbury conveyancing searches.

We wanted to use a conveyancing solicitor in Tewkesbury for our house purchase. Our broker has since advised us that our mortgage lenders won't deal with them. Why is this not regarded as unduly restrictive?

Lenders tend to restrict either the type or the volume of conveyancing solicitors on their member panel. A common example of such criteria being that a law practice must not be a sole practitioner. In addition to restricting the profile of firm, some have decided to limit the number of solicitor practices they permit to act for them. Be aware that have no responsibility for the quality of advice provided by any member of Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of conveyancing panels since 2008 even though there remains mixed views regarding the extent of solicitor engagement in some of that fraud. Data from the Land Registry reveal that plenty of law firms, including some in or near Tewkesbury only execute a couple conveyances per annum.

Are all Tewkesbury Conveyancing Quality Solicitors on the conveyancing list of approved solicitors?

A selection of banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.

I am expecting a OIP from this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do recommend any Tewkesbury solicitors on the conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Tewkesbury solicitors independently although you'll need to choose one on the conveyancing panel. The solicitor represents both you and through the process.

I have instructed a Tewkesbury having checked that they are on the conveyancing panel. Does my lawyer arrange the survey of the property?

will need an independent valuation of the property. Your lawyer will not arrange this. Usually will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Tewkesbury postcode. As you are getting a mortgage with , you could contact them to see if they have a list of approved surveyors in Tewkesbury.

Why do Tewkesbury conveyancing charges differ for leasehold and freehold properties?

Inevitably there is more work necessary in leasehold conveyancing. Tewkesbury has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.