I am in the process of selling my apartment in Boncath and the EA has just called to warn that the purchasers are swapping conveyancer. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only engage with specific lawyers rather the firm that they want to choose to handle their conveyancing in Boncath ?
Lenders have always had panels of law firms that can represent them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies blame a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say 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 are unaware that 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 sway in the decision.
Do all mortgage companies provide you with an approved list of Boncath conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Boncath conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
Do I have to attend the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Boncath so that I can attend their offices if necessary.
As opposed to ten years ago, the vast majority lenders no longer need their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to hand over identification documents and there are still distinct advantages to instructing a locally based ayer, in your case a conveyancing solicitor in Boncath.
How does conveyancing in Boncath differ for new build properties?
Most buyers of new build residence in Boncath come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Boncath typically acquire the real estate, 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 conveyancing solicitors 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 used to new build conveyancing in Boncath or who has acted in the same development.
What tools are available to identify a Boncath solicitor on the Santander conveyancing panel? I drive a motor bike and am willing to travel upto 25miles to meet the conveyancer.
You can use the search on this website. Please choose the lender and your location and you will see a number of Boncath conveyancing lawyers based on proximity. We have listed some Boncath conveyancing firms at the bottom of this page and you can call them to see whether they are on the Santander panel