we are a couple who are hoping to buy a newbuild flat in Twickenham with a residential mortgage from Yorkshire Building Society.We like our Twickenham conveyancing practitioner but Yorkshire Building Society informed us she’s not listed on their approved list of firms. It seems we are left with no choice but to instruct a Yorkshire Building Society panel solicitor or keep our high street solicitor and pay for a Yorkshire Building Society panel lawyer to represent them. This seems very unfair; is there anything we can do?
No, not really. The home loan issued to you is subject to its various provisions, one of which will be that lawyers will be on the Yorkshire Building Society approved list. Until recently, most banks 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
Is it the case that all Twickenham CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing panel?
It is true that some lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
Can I be sure that the Twickenham conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Twickenham getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor handling your transaction.
I was told four weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in Twickenham is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are a common cause of stalling in Twickenham house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Twickenham.
How does conveyancing in Twickenham differ for new build properties?
Most buyers of new build residence in Twickenham come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Twickenham usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Twickenham or who has acted in the same development.
I am using a search engine for the words conveyancing in Twickenham it reveals numerous solicitorslocally. With so much choice what is the best way to find the right solicitor for my move?
The best way of seeking a suitable conveyancer is via personal testimonial, so enquire of friends and family who have acquired a property in Twickenham or a local estate agent or financial adviser. Fees for conveyancing in Twickenham differ, so it's sensible to obtain at least four fee calculations from different property lawyers. Make sure that you clarify that the fees are fixed.