Me and my fiance are buying a 1 bedroom flat in Batley with a mortgage. We would like to retain our Batley solicitor, however the mortgage company advise he's not on their "panel". It seems we have little choice but to use one of the bank panel firms or retain our Batley conveyancer and pay for one of their panel lawyers to represent them. We regard this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Batley conveyancing solicitor to apply to be on the conveyancing panel.
I am purchasing a flat and require a conveyancing solicitor in Batley who is on the Barclays Direct approved. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Barclays Direct in certain locations such as Batley. We dont recommend any particular firm.
Do I need to be concerned about estate agents that I am dealing with are recommending an online conveyancing firm rather than a High Street Batley conveyancing company?
As with many professional services, often suggestions from family and friends can be worth their weight in gold. Nevertheless there are numerous players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may recommend solicitors to retain. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You have the right to select your own conveyancer. However, bear in mind that the majority of mortgage providers specify a panel list of solicitors you have to use for the lender related work in your conveyancing.
I need to instruct a conveyancing solicitor for residential conveyancing in Batley. I have discover a web site which appears to be the perfect solution If it is possible to get all formalities done via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Our conveyancer in Batley has identified a a legal deficiency with the lease for the property we are buying in Batley. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our solicitor says that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.