Much to our surprise we have been notified by our lender that my Holborn lawyer is not on the bank Solicitor panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to contact your Holborn conveyancer. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
All was ready to move into my new home in Holborn next Thursday. My solicitor now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not unique to conveyancing in Holborn.
My Solicitor in Holborn is not listed on the Barclays Approved Panel. Can I still continue with my family solicitor even though they are not on the Barclays panel?
The limited options open to you here include:
- Carry on with your preferred Holborn lawyers but Barclays will need to instruct a solicitor on their panel. This will result in additional total conveyancing fees and result in frustration.
- Find an alternative practitioner to to deal with the conveyancing, obviously checking they are Persuade your conveyancer to do everything within their powers to join the Barclays conveyancing panel
I used Stirling Law a few years past for my conveyancing in Holborn. I now require my file but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Holborn of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £245,000 and identified one round the corner in Holborn I like with a park and station nearby, however it's only got 51 years on the lease. I can't really find anything else in Holborn in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage that many years may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
My father-in-law mentioned that before selecting a conveyancing firm they must be approved by your bank. I am novice purchaser but I have an AIP from Birmingham Midhshires and I already have a family conveyancing lawyer in Holborn on standby. Will Birmingham Midhshires require an approved solicitor to be instructed? If so, where can I find that list so I can appoint a conveyancing lawyer in Holborn?
You should use a solicitor that is on the Birmingham Midhshires panel. The simplest thing to do is ring your preferred Holborn conveyancing solicitor to check if they are on the Birmingham Midhshires panel. If they are not on the panel you have a number of choices available to you here:
- Proceed with your chosen Holborn conveyancer but Birmingham Midhshires will undoubtedly appoint a solicitor from their approved panel. The net impact is additional fees together with probable delay.
- Appoint a fresh lawyer to conduct the conveyancing, obviously checking they are on the Birmingham Midhshires conveyancing panel.
- Convince your conveyancer to attempt to join the lender panel.