I am nearing exchange of contracts for my house in Golders Green and the estate agent has just called to warn that the buyers are swapping property lawyer. The reason given is that the lender will only deal with property lawyers on their approved list. Why would a major lender only deal with certain law firms rather the firm that they want to choose to handle their conveyancing in Golders Green ?
Lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. 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. Some 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 sway in the decision.
I am assisting my aunt sell her property in Golders Green. Does the solicitor commission the energy assessment or it is for me to coordinate?
Following the abolition of HIPs, EPC’s was retained a compulsory element of selling a property. An energy performance certificate must be to hand in advance of the property being marketed. It is not something that lawyers ordinarily arrange. If you are instructing a Golders Green conveyancing solicitor they might help arrange energy performance certificates due to their contacts with reputable Golders Green energy assessors
We had appointed conveyancing lawyers with offices in Golders Green on the Principality solicitor panel. They are now charging me a supplemental fee for dealing with the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your solicitor is entitled to charge a fee for this. The charge is not dictated by Principality but by your Golders Green property lawyer. Numerous firms on the Principality panel will levy ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
Yorkshire BS have agreed my home loan in principle, my bid on a flat in Golders Green has been agreed to, what happens next?
Your estate agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s panel). Contact Yorkshire BS or your broker and complete any outstanding paperwork. Yorkshire BS will appoint a valuer who will get in touch with the estate agent or owners to schedule a time for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Yorkshire BS will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Golders Green.
3 months have gone by following my purchase conveyancing in Golders Green completed. I have checked the Land Registry site which shows that I paid £150,000 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 property 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.
About to purchase a new build apartment in Golders Green. Conveyancing is a frightening process 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 legal work.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Golders Green
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the advice of my in-laws I had a survey completed on a property in Golders Green before appointing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies tend not issue a mortgage on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Golders Green. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Golders Green to see if the conveyancing costs will increase in light of this.
My husband and I are FTB’s - had an offer accepted, yet the property agent advised that the vendor will only proceed if we instruct their recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a high street solicitor accustomed to conveyancing in Golders Green
It is improbable the owners are behind this. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is counter productive. Avoid the agents and go straight to the sellers and make sure they understand (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you intend to use your own,trusted Golders Green conveyancing solicitors - not the ones that will give the estate agent a introducer fee or hit his conveyancing thresholds pre-set by senior management.