My partner and I are planning to purchase a property in Highgate and are in fact using a Highgate conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. The Mortgage Works have this afternoon contacted us to inform me that they have now hit a problem as our Highgate conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also act for 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 Highgate lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My husband and I are hoping to buy a newbuild apartment in Highgate with a mortgage from Bank of Ireland.We have a Highgate conveyancing practitioner but Bank of Ireland says he's not on their approved list of firms. we are left little option but to use a Bank of Ireland panel solicitor or retain our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Bank of Ireland use our lawyer?
No, not really. The home loan issued to you is subject to its terms and conditions, one of which will be that lawyers will be on the Bank of Ireland solicitor panel. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Bank of Ireland
Should my conveyancer be asking questions regarding flooding during the conveyancing in Highgate.
Flooding is a growing risk for conveyancers specialising in conveyancing in Highgate. Some people will purchase a house in Highgate, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a number of checks that may be initiated by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Highgate. The standard information given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to find out if the premises has suffered from flooding. If the residence has been flooded in past which is not disclosed by the owner, then a buyer may issue a compensation claim resulting from an misleading reply. The purchaser’s solicitors may also conduct an environmental report. This should reveal whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
Are there restrictive covenants that are commonly identified as part of conveyancing in Highgate?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Highgate. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I need to retain a conveyancing solicitor for freehold conveyancing in Highgate. I happened to stumble upon a site which appears to be the perfect answer If there is a chance to get all this stuff completed via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What can I do to find out who owns a property in Highgate?
Provided the property is registered with HM Land Registry, and you have the specifics of the location of the premises, you should be able to see results from the the Land Registry of the recorded owner for a for less than a fiver.