I decided to go with a Bexleyheath based solicitor for our conveyancing in Bexleyheath last week. Upon checking the official terms of business I seeI am responsible for fees even if the sale aborts. Should I go with them or instruct an internet lawyer promoting no-sale-no-fee conveyancing in Bexleyheath?
It is usually ‘give and take’ in that if "No Completion No Fee" is offered then the conveyancing charges will generally be higher to cover those conveyances that fail to complete. Also remember that such offerings tend not to protect you from expenses for example Bexleyheath conveyancing search expenses.
Due to complete my purchase in Bexleyheath next Tuesday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the bank expect the insurance to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not unique to conveyancing in Bexleyheath.
We see that you have a search directory identifying firms on the Coventry BS conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Bexleyheath?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bexleyheath.
We wanted to use a conveyancing solicitor in Bexleyheath for our house purchase. Our broker informed us that our bank TSB won't deal with them. Surely this is unfair competition?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Bexleyheath conveyancing firms would have been on many bank panels. The FSA in 2010 completed a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms relating to their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Bexleyheath conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Bexleyheath is one of the many locations where the lawyers showing on our search results are are approved TSB.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when purchasing a residence in Bexleyheath?
Unless a prior acquisition of the property completed post 12 October 2013 you may assume that solicitors delivering conveyancing in Bexleyheath to remain recommending a chancel search and or insurance against a claim.