I am one month into the sale of my home in Thrapston and the EA has just text me to warn that the buyers are switching solicitor. The excuse is that the lender will only engage with solicitors on their conveyancing panel. On what basis would a leading lender only engage with certain law firms rather the firm that they want to choose for their conveyancing in Thrapston ?
Lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some 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. The buyers are unlikely to have any impact on this.
Do the conveyancing practitioners that you recommend conduct right to buy conveyancing in Thrapston?
We work with a number of conveyancing specialists who can conduct right to buy conveyancing You should e-mail us to get a costs calculation.
We are purchasing a house and need a conveyancing solicitor in Thrapston who is on the Nottingham approved 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 Nottingham . We don't recommend any particular firms conducting conveyancing in Thrapston.
How does conveyancing in Thrapston differ for newly converted properties?
Most buyers of new build or newly converted property in Thrapston contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Thrapston typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Thrapston or who has acted in the same development.
We are 3 weeks into a freehold purchase having been directed to solicitors by the estate agent to perform conveyancing in Thrapston. I am am extremely dissatisfied with the quality of service. Could you you assist me in finding new solicitors?
A lawyer would need to be very bad to suggest diss instructing them. Has the mortgage been issued? In the event that it has you will need to make them aware of the new lawyer and have the loan are re-sent. The solicitor ideally needs to be on the banks approved list to avoid added fees and complications. So that should be your starting point. The find a solicitor tool can help you find a lender approved solicitor for your home move in Thrapston