Common questions asked concerning the Hinckley and Rugby Solicitor Panel from members of the public
I am progressing with the sale of my maisonette and the estate agent has just e-mailed to warn that the purchasers are changing their property lawyer. The reason given is that Hinckley and Rugby will only work with solicitors on their approved list. On what basis would a major lender only work with certain law firms?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders 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.
Expecting to complete my purchase next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Hinckley and Rugby. What does the insurance need to cover?
All property lawyers on the Hinckley and Rugby conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Hinckley and Rugby’s Part 2 requirements of the CML Handbook (last updated on Hinckley and Rugby). Being on the Hinckley and Rugby conveyancing panel your lawyer is expect to follow these instructions.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Hinckley and Rugby conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Hinckley and Rugby conveyancing panel as opposed to being supplied with a list from Hinckley and Rugby directly.
I am attempting to get my ex-husband removed the mortgage deeds. Can Hinckley and Rugby really tell me which solicitor I can or can not retain?
You can use any solicitor you like but Hinckley and Rugby then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Hinckley and Rugby solicitors panel
I have today made my last payment due on mortgage with Hinckley and Rugby. I assume I don't need a solicitor on the Hinckley and Rugby panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Hinckley and Rugby mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Hinckley and Rugby mortgage from the register. Hinckley and Rugby,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Hinckley and Rugby has sent the Land Registry the discharge electronically, and
the Hinckley and Rugby has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Hinckley and Rugby mortgage has been paid off.
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch Hinckley and Rugby on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Hinckley and Rugby 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 Hinckley and Rugby. Unless your lawyer obtains specific confirmation in writing that Hinckley and Rugby 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 Hinckley and Rugby to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Hinckley and Rugby 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 Hinckley and Rugby or your broker and complete any relevant paperwork. Hinckley and Rugby will tell you what documents they want. Hinckley and Rugby 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. Hinckley and Rugby 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.