I am progressing with the sale of my home in Childwall and the EA has just called to warn that the buyers are switching solicitor. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a major lender only engage with specific solicitors rather the firm that they want to appoint for their conveyancing in Childwall ?
Banks have always had panels of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
We are purchasing a house and require a conveyancing solicitor in Childwall who is on the RBS approved panel. Could you point me in the right direction as regards a conveyancing 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 RBS . We don't recommend any particular firms conducting conveyancing in Childwall.
I am refinancing my house in Childwall, does my lawyer need to be on the Co-operative Solicitor panel?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
My lawyer has informed me that breach of easement insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Childwall?
The appropriate level of breach of easement indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and The Mortgage Works. Conveyancing practitioners as opposed to members of the public take out such insurances.
I had a mortgage agreed in principle with TSB. Childwall conveyancing solicitors are appointed. How long does it take for TSB to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have TSB conducted the survey? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I was told four weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Childwall is approved on their conveyancing panel? Coventry BS 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 Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm remortgaging my primary house to a buy to let mortgage with Barnsley Building Society and intend to use the remaining equity as a deposit on a second house. The area we are talking about is Childwall. Will your conveyancers be able to act for the two banks and link together the conveyances?
Do use our comparison tool on this page to ensure that the conveyancers are approved by both banks. Assuming that they are your lawyer should be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and make clear your desired outcome and requirements.
Is planning consent necessary to split a single dwelling into a couple of appartments in Childwall? This has been carried out to a property adjacent to a friend in Childwall and was unaware of it happening until it was finished.
Planning Permission yes. Building Regulations yes.