I can't travel far from Nottingham. Is there a reason why all Nottingham conveyancers aren't automatically on all lender panels?
Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to mortgage companies purging less reputable firms from their books of approved solicitors .
My husband and I decided to purchase a purpose built apartment in Nottingham with a mortgage from Nationwide Building Society.We like our Nottingham conveyancing solicitor but Nationwide Building Society says she’s not on their "panel". It seems we have no choice but to instruct a Nationwide Building Society panel firm or retain our preferred solicitor and fork out for a Nationwide Building Society panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you contains terms and conditions, one of which will be that lawyers must be on the Nationwide Building Society solicitor 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 solicitors to apply to be on the conveyancing panel for Nationwide Building Society
It has been five months since my purchase conveyancing in Nottingham concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How easy is it to use your search app to choose a conveyancing practitioner in Nottingham on the authorised to act for my mortgage?
Step one is to select a mortgage company such as Birmingham Midshires, Bank of Scotland or Alliance & Leicester then type in your preferred area e.g. Nottingham. Conveyancing practices in Nottingham and beyond will then be identified.
My father has recommend that I instruct his conveyancing solicitors in Nottingham. Should I choose my own conveyancer?
No doubt the ideal way to find a conveyancing solicitor is to seek referrals from friends or family who have actually previously instructed the conveyancer that you are contemplating using.