I am nearing exchange of contracts for my maisonette in Farringdon and the EA has just telephoned to warn that the buyers are changing their law firm. The reason given is that the lender will only engage with property lawyers on their conveyancing panel. Why would a leading mortgage company only deal with specific solicitors rather the firm that they want to select to handle their conveyancing in Farringdon ?
Banks have always had panels of law firms that can act for them, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders justify this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say 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. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
Do the conveyancing lawyers identified via your search tool conduct conveyancing in Farringdon by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct attended exchanges. Please contact us to get a conveyancing quote and details as to availability.
We see that you have a search directory identifying firms on the Barclays conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Farringdon?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Farringdon.
Just acquired a detached house in Farringdon , What is the estimated time for the Land Registry to deal with the formalities evidencing my title? My Farringdon conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are addressed.
As far as conveyancing in Farringdon is concerned, registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timeframes can vary subject to the party submitting the application, whether there are errors and whether the Land registry communicate with any 3rd persons or bodies. Currently approximately 80% of such applications are fully dealt with within two weeks but occasionally there can be longer hold-ups. Historically registration takes place after the purchaser has moved in to the premises so 'speed' is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers could speak with the land registry and explain the circumstances.
About to purchase a new build flat in Farringdon. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Farringdon
Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Farringdon is the location of the property. Can you shed any light on this issue?
Flying freeholds in Farringdon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Farringdon you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Farringdon may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.