My fiance and I are buying an apartment in Holborn. My property lawyer has never been on on the mortgage company conveyancing panel. Can I still retain my Holborn conveyancing solicitor notwithstanding that they are not on the lender panel?
You have a number of alternatives open to you here
- Carry on with your existing Holborn conveyancing practitioner but your mortgage company will undoubtedly use a lawyer from their approved list. The net result is additional charges together with potential frustration.
- Get a new conveyancer to act in the purchase, making sure they are on the bank conveyancing panel.
- Appeal to your lawyer to attempt to join the bank panel
My wife and I swapping mortgage lender for our maisonette in Holborn with Barclays. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this form unique to the Barclays conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Barclays conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Barclays. This is solely used to protect Barclays if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Barclays had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is there a reason why leasehold purchase conveyancing in Holborn is more expensive?
Holborn leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Me and my partner are buying a property in Holborn. I might seem paranoid but how we can trust a conveyancer? At some point we have to deposit funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Holborn property lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Planning on purchasing a flat in Holborn. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Holborn lawyer is on the Virgin Money conveyancing panel.
We're first time buyers - had an offer accepted, but the estate agent has warned us that the seller will only go ahead if we appoint the agent's preferred conveyancers as they need an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Holborn
We suspect that the owner is not behind this request. If they require ‘a quick sale', taking such a hostile approach to a serious purchaser is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Holborn conveyancing lawyers - not the ones that will earn the negotiator at the agency a referral fee or hit his conveyancing figures pre-set by head office.
Is there a distinction between surveying and conveyancing in Holborn?
Conveyancing - in Holborn or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are buying and will help you find out about the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the seller to fix the problems before you complete your move.