I am not in a position to travel far from Mill Hill. Please clarify why all Mill Hill lawyers aren't included on all mortgage company panels?
Banks tend to restrict either the type or volume of conveyancing solicitors on their panel. A common example of such criteria being that a organisation needs to have at least two partners. In addition to restricting the structure of firm, some banks such as HSBC made a decision to reduce the size of their panel they allow to represent them. It is worth noting that lenders have no liability for the quality of conveyancing given by any Mill Hill property lawyer on their panel. Increases in mortgage fraud was a key driver in the reduction of conveyancing panels from 2008 even though there are conflicting points of view concerning the extent of solicitor involvement in some of that fraud. Data from HM Land Registry exposes that thousands of conveyancing organisations only conduct a couple of conveyances annually. Those supporting conveyancing panel cuts question why law firms should have claim to remain on a bank panel when clearly property law is not their primary expertise?
Is there a reason why leasehold purchase conveyancing in Mill Hill is more expensive?
The conveyancing costs on a leasehold property in Mill Hill is inevitably more expensive as compared to a freehold acquisition or disposal. This is because there is an amount of supplemental investigations required in dealing with the freeholder and management company to collate the evidence concerning whether the rent and maintenance fee have been paid and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
There is lots of here concerning conveyancing in Mill Hill but what is your top tip for appointing the right conveyancer in Mill Hill
Do not opt for the lowest Mill Hill conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Two weeks ago we had a mortgage agreed in principle with Coventry BS. Mill Hill conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
There is no definitive answer here. Have Coventry BS completed the survey? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am expecting a OIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Mill Hill solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Mill Hill solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial estate in Mill Hill?
Its becoming the norm that commercial conveyancing solicitors in Mill Hill will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Mill Hill. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Mill Hill.
For every commercial conveyancing transaction in Mill Hill it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Mill Hill commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Mill Hill.
I am buying a new build house in Mill Hill benefiting from help to buy. The sellers would not move on the price so I negotiated 6k of extras instead. The property agent advised me not inform my lawyer about this extras as it could impact my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
The mortgage broker has suggested using their solicitor for our conveyancing in Mill Hill - won’t it be advisable to just instruct them?
This is not necessarily the case and you are at liberty to use whichever solicitor you prefer for your Mill Hill home move. A lawyer recommended by an estate agent may not necessarily be the right property lawyer, they may recommend their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain updates.