I am progressing with the sale of my maisonette in Whimple and the estate agent has just telephoned to advise that the purchasers are appointing a new property lawyer. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with certain law firms rather the firm that they want to appoint for their conveyancing in Whimple ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
We are planning to acquire a house and require a conveyancing solicitor in Whimple who is on the Barclays solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Whimple.
What does a local search inform me about the property we're purchasing in Whimple?
Whimple conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search is essential in every Whimple conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
My wife and I have a 4 bedroom Edwardian house in Whimple. Conveyancing practitioner acted for me and Britannia. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Whimple and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing practitioner who completed the work.
I have been recommended by numerous estate agents in Whimple to find a solicitor on your site. Is there a financial upside for Estate Agents to market your lawyers ahead of another?
We refuse to give any referral fee for sending work in our direction. We found it would be just too difficult a fee as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.