I am nearing exchange of contracts for my flat in March and the EA has just text me to advise that the purchasers are changing their conveyancer. The reason given is that the lender will only deal with property lawyers on their approved list. On what basis would a big named lender only deal with specific lawyers rather the firm that they want to appoint for their conveyancing in March ?
Lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have reviewed 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 pruning – criteria have been stiffened 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 being contacted daily by practices that have been removed from panels. Plenty of firms 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 purchasers are unlikely to have any sway in the decision.
Me and my partner are acquiring our first property. The conveyancer has contact usto ask if we would like to order additional conveyancing searches. Frankly we have no idea as to what's relevant for conveyancing in March
The type of March conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your knowledge of the area and risks, your overall appetite to risk. What is important is that you properly appreciate what information each search could provide. Then you can make a decision if you personally think you need that information. If uncertain, ask your conveyancing practitioner to explain.
My solicitor has informed me that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in March?
The right level of lack of right of way indemnity insurance depends on your lender. It would differ for example between HSBC Bank and Leeds Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
How can we know in advance if a March conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in March getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor carrying out your conveyancing.
My offer on a semi in March has been agreed to, the sellers do however have an associated purchase. The owners have offered on a flat, but it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have selected a nearby conveyancing solicitor in March. What should be my next step? When do I get the mortgage application with Principality going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, March conveyancing search costs, etc). First, you must check that your conveyancing practitioner is on the Principality approved list. As to the subsequent phase this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. During a rising market some buyers will apply for the mortgage with Principality and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to move forward with searches.
I used Arc property Solicitors several years past for my conveyancing in March. I now require my papers however 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 March of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
It has taken forever and a day but a loan agreement from a bank for the remortgage of my 3 bedroom maisonette is to be issued within the next few days. Are you able to recommend a cheap remortgage conveyancing solicitor in March ?
You have come to the wrong place to search for the cheapest conveyancing in March. Our goal is to offer cost effective conveyancing but we do not advertise as being the cheapest. Avoid the trap of appointing companies offering low cost conveyancing in March.At best, in going for cheap conveyancing, you will end up with what you pay for and at worst you will end up paying a lot in extras and still not receive the service expected.