We are purchasing a 2 bedroom flat in Killingworth with a mortgage. We wish to retain our Killingworth conveyancer, however the mortgage company says he's not on their "panel". We have to appoint one of the bank panel solicitors or retain our Killingworth conveyancer and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Killingworth conveyancing lawyer to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Killingworth? Is this really warranted?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you need to sign will no doubt confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to supply identification documents, your conveyancer will not be able to take you on as a client.
There are plenty of conveyancing solicitors in Killingworth but how do I know who I should use?
We would encourage you not to base your choice on the lowest Killingworth conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Is there a list of Nationwide panel solicitors in Killingworth on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings available on the web. Where you are seeking to appoint a Killingworth solicitor on the Nationwide please make the most of our facility.
I was told four weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Killingworth is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are a common reason for stalling in Killingworth conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Killingworth.
I am 14 days into a freehold purchase having been recommend to conveyancers by the selling agent to handle our conveyancing in Killingworth. I am not happy. Could you help me find new lawyers?
A lawyer would need to be very poor in order to consider changing them. Has the loan offer been issued? If so you must inform them of the new contact details and get the offer are re-sent. Your new solicitor ideally needs to be on the mortgage company approved list to avoid added charges and frustration. That should be your first question of the new solicitors. The find a solicitor tool can help you find a lender approved lawyer for your home move in Killingworth