I am selling my ground floor flat in Bedale and the EA has just text me to advise that the purchasers are appointing a new conveyancer. I am told that this is due to the fact that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only engage with certain solicitors rather the firm that they want to appoint for their conveyancing in Bedale ?
UK lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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. Your purchasers are not going to have any impact on this.
When scouring mumsnet.com for an online lawyer in Bedale, most say that I should instruct a CQS assured lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing processes through the scheme protocol It covers numerous partnerships who execute conveyancing in Bedale.
The formalities of my remortgage has taken place for my property in Bedale. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel 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.
After shopping around on the internet I have found a Bedale conveyancer having made sure that they are on the Leeds Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bedale surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My sealed bid on a semi in Bedale has been agreed to, the owners do however have a tied purchase. The vendors have offered on a property, however it’s not been accepted yet, and have viewings of other apartments booked. I have chosen a nearby conveyancing solicitor in Bedale. What should be my next step? When do I get the mortgage application with Kent Reliance going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of one thousand pounds, then survey, Bedale conveyancing search fees, etc). First, you must ensure that your solicitor is on the Kent Reliance approved list. As to the next phase this very much dictated by the circumstances of your case, desire for this property and on the state of the market. During a rising market many buyers will apply for a home loan with Kent Reliance and pay for the valuation and only if it was satisfactory would they pay their conveyancer to press on with the conveyancing in Bedale.
Have purchased a a detached house in Bedale , how long should it take for the Land Registry to register my proprietorship? My Bedale conveyancing solicitor has been painfully slow, so I want to check that my ownership is registered.
There is nothing unique when it comes to conveyancing in Bedale registration formalities. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether it is in order and if the Land registry communicate with any 3rd parties. Currently approximately three quarters of submission are completed in less than three weeks but occasionally there can be extensive delays. Registration takes place after the purchaser has moved in to the property therefore an expedited registration is not always top priority yet if it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
When it comes to my conveyancing in Bedale should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Bedale conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.