I am not well enough to travel far from Tilbury. I would like to know the logic why all Tilbury conveyancers aren't automatically on all lender panels?
Pre- 2008 most mortgage companies demonstrated an attitude to risk which is different from today. The FSA in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the conveyancing practitioners on your panel. As a result, banks have since looked to extract more data from law firms about their operations and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of law practices have found themselves removed from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum volume of transactions the mortgage companies required.
My partner and I are acquiring a new build duplex in Tilbury and my solicitor is informing me that she is duty bound to the lender to disclose incentives from the developer. I am under pressure to sign contracts and my preference is not to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender 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.
My Solicitor in Tilbury is not on the Santander Approved Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are not on the Santander approved list?
The limited options available to you here include:
- Carry on with your preferred Tilbury solicitors but Santander will need to use a conveyancer on their list of acceptable firms. This will result in additional overall legal fees and result in frustration.
- Get an alternative practitioner to act in the conveyancing, obviously checking they are on the Santander panel
Just bought a detached house in Tilbury , What is the estimated time for the Land Registry to register my title? My Tilbury conveyancing solicitor has been very slow, so I want to be sure that my purchase is recorded.
There is nothing unique about conveyancing in Tilbury registration formalities. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry have to notify any other parties. As of today in the region of three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be protracted delays. Registration is effected once the buyer is living at the property therefore 'speed' is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your solicitor could contact the land registry and explain the circumstances.
I need to retain a conveyancing solicitor for leasehold conveyancing in Tilbury. I've stumble upon a web site which seems to have the perfect answer If there is a chance to get all this stuff completed via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?