Unfortunately I am unable to travel far from Hampden Pk. What is the rationale as to why all Hampden Pk solicitors are not on all mortgage company panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in mortgage companies culling a number of firms from their panel of approved conveyancers .
Can you clarify what the consequences are if my solicitor is suspended from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Hampden Pk?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are getting a further advance on our mortgage from RBS as we wish to conduct a loft conversion to our property in Hampden Pk. Are we obliged to choose a nearby Hampden Pk solicitor on the RBS conveyancing panel to deal with the paperwork?
RBS would not normally require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
The formalities of my remortgage has taken place for my property in Hampden Pk. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I can not work out if my lender requires a lease extension. I have called into my local Hampden Pk building society branch on numerous occasions and was told they are content with the situation and they would lend. My Hampden Pk conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the lawyer is on the bank approved list, they must adhere to the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Hampden Pk is where the house is located. What do you suggest?
Flying freeholds in Hampden Pk are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hampden Pk you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampden Pk may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
We are a fortnight into a freehold purchase having been directed to conveyancers by the local agent to do our conveyancing in Hampden Pk. I am not happy. Can you help me find new conveyancers?
A solicitor would need to be really poor in order to consider changing them. Has your loan offer been generated? In the event that it has you will need to advise them of the new contact details and get the mortgage documents are re-issued. Your new conveyancer needs to be on the lenders panel to avoid escalating costs and delays. So that should be your starting point. The search tool should assist you in finding a lender approved solicitor for your conveyancing in Hampden Pk