I am selling my apartment in Edgware and the estate agent has just called to say that the buyers are appointing a new property lawyer. The reason given is that the bank will only work with property lawyers on their approved list. Why would a major lender only work with specific law firms rather the firm that they want to select to handle their conveyancing in Edgware ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
We note that you have a search directory listing law firms on the Virgin Money conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Edgware?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Edgware.
A friend suggested that if I am buying in Edgware I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Edgware conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Edgware around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Edgware.
4 months have gone by since my purchase conveyancing in Edgware took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Edgware before appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some lenders may refuse to grant a mortgage on this type of home.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Edgware. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Edgware to see if the conveyancing will be more expensive.
What tools are available to search for a Edgware solicitor on the Godiva Mortgages Ltd conveyancing panel? I drive a motor bike and am willing to travel upto 10kilometers to meet the solicitor.
You can use the facility on this website. Please choose the lender and your location and you will see a number of Edgware conveyancing lawyers based on proximity. We have detailed some Edgware conveyancing firms at the bottom of this page and you can telephone them to verify if they are on the Godiva Mortgages Ltd panel