My fiance and I are looking to acquire a property in Caerwent and have appointed a Caerwent conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. National Westminster Bank have this morning contacted us to inform me that they have now hit a problem as our Caerwent conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Caerwent lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
It is 10 years ago since I purchased my house in Caerwent. Conveyancing solicitors have now been instructed on the sale but I am unable to locate my deeds. Will this cause complications?
You need not be too concerned. First the deeds may be retained by the lender or they could be in the possession of the solicitor who acted in the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Caerwent relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
Is it correct that all Caerwent CQS (Conveyancing Quality Scheme) solicitors are on the Skipton conveyancing panel?
Some major banks and building societies now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
Is there a list of Yorkshire BS panel solicitors in Caerwent on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings visible over the internet. Where you are in need of a Caerwent solicitor on the Yorkshire BS please make the most of our facility.
Completion of my purchase has taken place for my property in Caerwent. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Do I need to pay for insurance to cover chancel repairs when buying a residence in Caerwent?
Unless a previous purchase of the property completed after 12 October 2013 you can expect lawyers delivering conveyancing in Caerwent to remain encouraging a chancel search and or chancel repair liability policy.
Our bank agreed in principle to give us a mortgage. We instructed a local conveyancer in Caerwent yesterday. This morning, our broker contacted us saying that the lender said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the mortgage company had a say Is this usual?
You can actually instruct any conveyencer you want to appoint for your conveyancing in Caerwent however if they are not on the your bank's approved list you would have to incur additional cost so the bank can instruct their own conveyancer too. On occasion it is possible your preferred conveyancing firm to get included on to the bank panel. You can use internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Caerwent on the mortgage company panel. You can go into your local lender branch in Caerwent. They will know some good conveyancing solicitors in Caerwent on the approved list.