Barclays - Woolwich Conveyancing Panel : Questions and Answers from members of the public
I am progressing with the sale of my flat and the estate agent has just texted me to say that the purchasers are appointing a new law firm. I am told that this is due to the fact that Barclays - Woolwich will only engage with property lawyers on their approved list. On what basis would a leading mortgage company only work with certain solicitors?
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 HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks blame a rise in fraud by way of justification 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.
can you help? My solicitor is assuring me that she is duty-bound to conduct a Local Authority search stemming from the fact that the firm are on the Barclays - Woolwich approved lawyer panel. The searches cost a lot of money. Can this be avoided?
You have limited options available to you. As you are taking a mortgage with Barclays - Woolwich your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Barclays - Woolwich’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Barclays - Woolwich. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I need to find a Barclays - Woolwich panel solicitor in Belfast. Can you assist?
It is not clear why you need a Barclays - Woolwich panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Barclays - Woolwich to find out which solicitors in Barclays - Woolwich are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My conveyancers in Newcastle have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Barclays - Woolwich. Is it case that being on the Barclays - Woolwich conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Barclays - Woolwich Conveyancing Panel Terms. It might be worth you contacting Barclays - Woolwich directly.
I had instructed online conveyancers based in Bristol who are on the Barclays - Woolwich solicitor panel. They are now charging me a separate fee of £175 for dealing with the Barclays - Woolwich mortgage. Is this an additional conveyancing fee specified by Barclays - Woolwich?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Barclays - Woolwich but by your lawyers. Some firms on the Barclays - Woolwich will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I have a mortgage with Barclays - Woolwich. Conveyancing was finalised a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays - Woolwich?
Barclays - Woolwich must be informed of your intention in advance of renting your property as this is likely to be a breach of Barclays - Woolwich’s mortgage conditions. It may be that Barclays - Woolwich will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays - Woolwich directly. It should not be necessary to do this via a Barclays - Woolwich conveyancing panel lawyer.
Planning on purchasing a house with a mortgage with Barclays - Woolwich. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays - Woolwich conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Barclays - Woolwich conveyancing panel