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Conveyancing Panel
Birmingham Midshires Conveyancing Panel : Questions and Answers
I am progressing with the sale of my maisonette and the estate agent has just e-mailed to warn that the buyers are swapping solicitor. The reason given is that Birmingham Midshires will only engage with property lawyers on their conveyancing panel. On what basis would a major lender only engage with specific lawyers?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be 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 says it is hearing daily from firms that have been removed from panels, or have other concerns about them. 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 buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Our grandson is in the process of securing a newly built flat with a home loan from Birmingham Midshires. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Birmingham Midshires conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Birmingham Midshires conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I need to visit the offices of the Birmingham Midshires conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in London
so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for Birmingham Midshires undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am purchasing a right to buy flat and getting a mortgage with Birmingham Midshires. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Birmingham Midshires conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Birmingham Midshires conveyancing panel in your location.
Can I be sure that the solicitor on the Birmingham Midshires panel is any good?
Getting recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your conveyancing
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Birmingham Midshires conveyancing panel requirements are different to Birmingham Midshires’s conveyancing panel requirements.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Birmingham Midshires. Is there anyway to cut out the solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Birmingham Midshires involved you will need to appoint a solicitor on the Birmingham Midshires conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Birmingham Midshires. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Birmingham Midshires conveyancing panel.