My wife and I are getting closer to an exchange on a house in Dollis Hill and my mum and dad have sent the ten percent deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor needs to make a notification to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
Your lawyer is obliged to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a search directory listing solicitors on the Kent Reliance conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Dollis Hill?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Dollis Hill.
The Dollis Hill conveyancing lawyers that I recently instructed on my house acquisition in Dollis Hill have without warning closed. They were on acting for me because I needed a lawyer on the Nottingham conveyancing panel and my family Dollis Hill lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
What is your number one tip for finding a conveyancing solicitor in Dollis Hill
It would be unwise to be seduced by the cheapest Dollis Hill conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. 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.
Are all Dollis Hill Conveyancing Quality Solicitors on the Co-operative conveyancing list of approved firms?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
It is not clear whether my mortgage offer requires a lease extension. I have called my Dollis Hill bank branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Dollis Hill conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
The lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Should I instruct a Dollis Hill conveyancing solicitor based in the vicinity that I am purchasing? I have an old university friend who can execute the legal formalities but her office is 300kilometers drive away.
The primary upside of using a local Dollis Hill conveyancing firm is that you can pop in to execute documents, deliver your identification documents and pester them where appropriate. Having local Dollis Hill know how is a bonus. However it's more important to get 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 should surpass using an unfamiliar Dollis Hill conveyancing solicitor just because they are Dollis Hill based.
What is the average legal costs for conveyancing in Dollis Hill?
The average cost last year for conveyancing in Dollis Hill was just under one thousand five hundred pounds not including SDLT and HMLR charges.