My wife and I are hoping to purchase a home in Hadley Wood and have appointed a Hadley Wood conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this afternoon contacted us to advise us that they have now hit a problem as our Hadley Wood conveyancer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Hadley Wood lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can you suggest a Yorkshire Building Society allowed Hadley Wood conveyancing firm finish our home move within under 3 weeks? Would it be better to use a high street Hadley Wood conveyancer or a factory type comparison site?
We can recommend some very good Hadley Wood conveyancing firms. Another option is to visit the main road in Hadley Wood. Visit a couple of firms and ask to speak with a conveyancing solicitor for a fee estimate. Discuss your requirements together with the reasons and ask for a commitment on your deadline. Appoint the lawyer that genuine.
It is is a decade since I acquired my house in Hadley Wood. Conveyancing lawyers have recently been instructed on the sale but I am unable to track down the deeds. Is this a major issue?
You need not be too concerned. First the deeds may be retained by the mortgage company or they could still be with the solicitor who oversaw the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Hadley Wood involves registered property but in the unlikely event that your property is unregistered it is more problematic but is not insurmountable.
Various internet forums that I have come across warn that are the primary cause of stalling in Hadley Wood conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Hadley Wood.
I am buying a new build flat in Hadley Wood. Conveyancing is necessary evil 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.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Hadley Wood
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are architect prepared. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Should I be suspicious that estate agents that I am dealing with are recommending a factory type conveyancing firm rather than a High Street Hadley Wood conveyancing practice?
As is the case with many professional services, often recommendations from family and friends can be worth their weight in gold. Yet there are lots of players in a conveyancing transaction; estate agents, financial adviser and lenders might all recommend conveyancers to retain. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the endorsement. You are free to select your own conveyancer. Don't forget that the majority of banks have an approved list of lawyers you are obliged to use for the mortgage related work in your conveyancing.