Me and my partner are buying a 3 bedroom flat in Blackfen with a mortgage. We would like to retain our Blackfen lawyer, however the bank says he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Blackfen solicitor and pay for one of their panel ones to act for them. This feels very unfair; can we not require that the mortgage company use our Blackfen lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Blackfen conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I have just bought a property in Blackfen. We have noticed several issues with the house which we suspect were missed in the conveyancing searches. Is there anything we can do? What searches should? have been ordered as part of conveyancing in Blackfen?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Blackfen. Conveyancing searches and due diligence undertaken as part of the buying process are carried out to help avoid problems. As part of the process, the vendor fills in a form called a Seller’s Property Information Form. If the information turns out to be misleading, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Blackfen.
In what way does my ID and proof of funds have anything to do with my conveyancing in Blackfen? Is this really warranted?
Blackfen conveyancing solicitors as well as nationwide property practitioners accross the UK have an obligation under money laundering regulations to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).
Evidence of the origin of funds is also required in accordance with the money laundering statutes as lawyers are mandated to check that the monies you are using to purchase a property (be it the exchange deposit or the total purchase monies if you are a cash purchaser) has come from legitimate source (such as employment savings) and is not the fruits of criminal behaviour.
It has been 2 months since my purchase conveyancing in Blackfen completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Blackfen differ for newly converted properties?
Most buyers of new build premises in Blackfen contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Blackfen typically buy the land, 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 Blackfen or who has acted in the same development.
Should I go with a Blackfen conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can conduct the legal formalities but they are based a couple of hundredmiles away.
The benefit of a local Blackfen conveyancing firm is that you can pop in to execute documents, deliver your identification documents and apply pressure on them where appropriate. Having local Blackfen know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that must trump using an unknown Blackfen conveyancing solicitor just because they are Blackfen based.