I am selling my home in Underwood and the estate agent has just e-mailed to advise that the buyers are swapping conveyancer. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a big named lender only deal with certain solicitors rather the firm that they want to choose to handle their conveyancing in Underwood ?
Lenders have always had panels of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some 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 sway in the decision.
Our son is buying a new build apartment in Underwood with a mortgage from Coventry BS. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am planning to acquire a flat and require a conveyancing solicitor in Underwood who is on the Chelsea Building Society approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Chelsea Building Society in certain locations such as Underwood. We dont recommend any particular firm.
What can a local search reveal regarding the property we're buying in Underwood?
Underwood conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company such as PSG The local search is essential in every Underwood conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your property. The search will provide data 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 thirteen subject areas.
I used Arc property Solicitors a few years ago for my conveyancing in Underwood. I now require my papers but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Underwood of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My uncle has suggested that I instruct his conveyancing solicitors in Underwood. Should I choose my own property lawyer?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to get feedback from friends or family who have actually experience in using the solicitor you're considering.