Q and A’s regarding the Barclays - Woolwich Conveyancing Panel from members of the public
I am selling my flat and the EA has just called to say that the buyers are swapping property lawyer. The excuse is that Barclays - Woolwich will only deal with solicitors on their conveyancing panel. On what basis would a major mortgage company only work with certain solicitors?
Banks have always had panels 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 more than 15 years.
Banks blame a rise 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 being contacted daily by practices 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.
My lawyer has spotted an inconsistency when comparing the surveyor’s assumptions in Barclays - Woolwich’s valuation survey and what is in the title deeds. My lawyer says that as he is on the Barclays - Woolwich conveyancing panel he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
A precondition to being on the Barclays - Woolwich approved panel is to comply with the CML Handbook requirements (last updated for this lender on Barclays - Woolwich) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
How do I find a local solicitor on the Barclays - Woolwich conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the conveyancer.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Barclays - Woolwich solicitor panel.
I am purchasing a new build flat and getting a mortgage with Barclays - Woolwich. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Barclays - Woolwich 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 Barclays - Woolwich conveyancing panel in your location.
I can not work out if my mortgage offer requires a lease extension . I have called into my local branch Barclays - Woolwich on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Barclays - Woolwich conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Barclays - Woolwich. Unless your lawyer obtains specific confirmation in writing that Barclays - Woolwich will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Barclays - Woolwich to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
After shopping around on the internet I have found a solicitor having made sure that they are on the Barclays - Woolwich conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Barclays - Woolwich conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays - Woolwich will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays - Woolwich 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 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.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Barclays - Woolwich you could contact your them to see if they have a list of approved surveyors.
Barclays - Woolwich have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Barclays - Woolwich or your broker and complete any relevant paperwork. Barclays - Woolwich will tell you what documents they want. Barclays - Woolwich will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Barclays - Woolwich will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
