Unfortunately I am unable to travel far from Newburn. Is there a reason why all Newburn property lawyers aren't automatically 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 every year.The removal 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 conclusions included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to lenders pruning less reputable firms off their panel of approved solicitors .
We are purchasing a flat and need a conveyancing solicitor in Newburn who is on the Principality solicitor panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality . We don't recommend any particular firms conducting conveyancing in Newburn.
Can you clarify what the consequences are if my solicitor is removed from the Nottingham Conveyancing panel ahead of completing my conveyancing in Newburn?
First, this is very unlikely to happen. 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 for a fee.
Do commercial conveyancing searches reveal impending roadworks that may affect a commercial estate in Newburn?
Its becoming the norm that commercial conveyancing solicitors in Newburn will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Newburn. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Newburn.
For each commercial conveyancing transaction in Newburn it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Newburn commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Newburn.
Me and my fiance have just had an offer agreed on a apartment and had an appointment on Monday with Nationwide for the mortgage. They advised us that when it comes to appointing a conveyancing practitioner that unless they are on their approved panel of property lawyers then we will be subject to an a further charge of £200. This is is due to the fact that they will then have to select a conveyancer to act on their behalf as well as the one we appoint for ourselves and we assume responsibility for their fees. I have asked Nationwide to furnish me with a list so I can obtain quotes only from their approved conveyancers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
Ask Nationwide what their panel criteria is for a conveyancer.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on loans for Nationwide in the past. If the answer to those is yes, then just clarify this with Nationwide. Another option is to use our search facility and we may be able to locate a solicitor in Newburn on the approved list for Nationwide.