My husband and I are planning to purchase a 2 bedroom flat in Camden Town with a mortgage. We would like to retain our Camden Town lawyer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel solicitors or continue with our Camden Town lawyer as well as pay for one of their panel lawyers to act for them. We consider that this is inequitable; are we not able to demand that the bank use our Camden Town conveyancer ?
Unfortunately,no. 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. Another option that might be available is for your Camden Town conveyancing solicitor to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Camden Town? What am I being asked for?
Camden Town conveyancing solicitors and indeed property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to supply two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Evidence of source of monies is also necessary in accordance with the money laundering regulations as conveyancers have a duty to investigate that the monies you are utilising to purchase a property (be it the exchange deposit or the total purchase monies where you are buying mortgage free) has originated from legitimate source (such as employment savings) as opposed to the proceeds of criminal behaviour.
After reading consumer advice sites for a conveyancing lawyer in Camden Town, many post that I should look for a CQS kitemarked solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing processes via the scheme protocol the standard covers many organisations who handle conveyancing in Camden Town.
This question may be naive but I am wet behind the ears as a first time buyer of a ground floor flat in Camden Town. Do I collect the keys to the house on the completion date from my lawyer? If so, I will instruct a local conveyancing solicitor in Camden Town?
On the day of completion you do not need to go to the conveyancers office in Camden Town. Your solicitors will transfer the purchase money to the seller's lawyers, and once they have received this, you will be invited to collect the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
Can I be sure that the Camden Town conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Camden Town seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer carrying out your conveyancing.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Camden Town property lawyer on the HSBC panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I am 17 days into a freehold purchase having been referred to solicitors by the estate agent to carry out the conveyancing in Camden Town. I am not happy. Can you help me find new solicitors?
A conveyancer would need to be very poor to suggest replacing them. Has the mortgage offer been sent? In the event that it has you must make them aware of the new contact details and ensure the offer are re-sent. Your new solicitor ideally should be on the mortgage company panel to avoid escalating charges and delays. That should be your first question of the new conveyancers. The search tool should assist you in finding a lender approved solicitor for your home move in Camden Town
There are a lot of properties in Camden Town on unadopted roads. We are buying such a property. What would be the pros and cons of buying a property on a privately owned road?
Camden Town conveyancing solicitors will be used to dealing propertieson unadopted roads. Your conveyancing practitioner should investigate Land Registry data to identify any rights or liabilities. It is possible that there is a management company (wholly owned by residents) that proprietors pay into for the upkeep of the road. If there is one, the road will likely be maintained and look nicer than publicly owned.