My mortgage broker has requested my West Hendon law firm’s panel reference for the Nationwide conveyancing panel. Can you suggest how I obtain this. I have tried my local West Hendon branch but they have not got back to me yet.
Have you tried speaking to your West Hendon property lawyer about this?. Most West Hendon law practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
It is a dozen years since I purchased my property in West Hendon. Conveyancing lawyers have now been retained on the sale but I can't locate my title documents. Is this a major issue?
You need not be too concerned. First there is a possibility that the deeds will be retained by the mortgage company or they could be archived with the conveyancers who acted in the purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining current official copies of the land registers. Almost all conveyancing in West Hendon relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in West Hendon. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 17/2/2019, the requirements read as follows :
Am I right to be concerned by estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a local West Hendon conveyancing practice?
As is the case with many service providers, often recommendations from family and friends can be very helpful. Nevertheless there are lots of players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may suggest conveyancers to use. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the recommendation. You have the discretion to choose your preferred conveyancer. Don't forget that many lenders have an approved list of solicitors you have to use for the lender related work in your house move.
My son is embarking on her first house purchase, he had his mortgage in principle. When the offer was accepted on flat we rang the mortgage company to go forward with his. We were very surprised to discover that mortgage lenders do not accept all solicitor, they have to be on a list, is this right?
Banks tend to restrict either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any West Hendon solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.