We are purchasing a apartment in Archway. I might seem paranoid but how we can trust a solicitor? On the day of competition we have to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I was told three weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Archway is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
Principality have agreed my mortgage in principle, my bid on a house in Archway has been agreed to, what happens next?
The property agent will want to be informed of your lawyer's details (be sure the property lawyers are on the lender’s panel). Telephone Principality or your financial adviser and finalise any appropriate forms. Principality will instruct a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Principality will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Archway.
Have purchased a a semi-detached house in Archway , how long will it take for the Land Registry to register my title? My Archway conveyancing solicitor works at snail pace, so I want to be certain that my ownership is registered.
As far as conveyancing in Archway registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry must send notices to any other parties. At present in the region of 80% of submission are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Historically registration occurs after the buyer is living at the property so post completion formalities is not usually primary concern yet if it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Archway differ for new build properties?
Most buyers of new build premises in Archway contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Archway tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Archway or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Archway is the location of the property. Can you shed any light on this issue?
Flying freeholds in Archway are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Archway you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Archway may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking into buying my first house which is in Archway and I am already nervous. I couldn't find anything specific about Archway. Conveyancing will be needed in due course but do you know about the Archway area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Archway. In the meantime here are some basic statistics that we found
Is it best to appoint a Archway conveyancing solicitor who is local to the property I am buying? We have a good friend who can carry out the legal formalities however his firm is located approximately 350miles drive away.
The primary upside of using a high street Archway conveyancing firm is that you can drop in to sign documents, deliver your ID and pester them if necessary. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were impressed that should trump using an unknown Archway conveyancing solicitor solely due to them being based in the area.