My financial adviser says he needs my Barnsbury law firm’s panel member for the Lloyds conveyancing panel. Can you suggest how I find this out. I have called my local Barnsbury branch but they have not responded to me.
The sensible thing to do is ask for this information from your Barnsbury conveyancer . They maintain a central record lender panel numbers.
The Barnsbury conveyancing firm handling our Barnsbury conveyancing has identified an inconsistency between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My lawyer has advised that he is duty bound to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications 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.
I have todaybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in Barnsbury for a purchase of a freehold house 9 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Barnsbury conveyancing specialists.
How does conveyancing in Barnsbury differ for new build properties?
Most buyers of new build or newly converted property in Barnsbury come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Barnsbury tend to acquire the real estate, 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 conveyancing solicitors 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 Barnsbury or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Barnsbury ahead of appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders may refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you e-mail us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Barnsbury. Conveyancing will be smoother if you use a solicitor in Barnsbury especially if they are familiar with such properties in Barnsbury.
My husband and I are buying a garden flat in Barnsbury. When we first instructed lawyer, they told us that they were on all major UK bank panels. The financial adviser contacted us just now to say that they don't seem to be on the Bank of Ireland approved list. Were it to be true, what should we do? Do we simply choose a different conveyancer that is on their approved list or do we pay for dual representation, with Bank of Ireland appointing their own approved conveyancer.
When purchasing a property with mortgage finance it is normal for the purchaser’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's list of approved lawyers. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the property lawyer has to fulfill. Some banks now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancing practitioner should call Bank of Ireland to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Bank of Ireland's conveyancing panel and you may continue to use your own Barnsbury solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the equation.