My wife and I are purchasing a 2 bedroom apartment in Kentish Town with a mortgage. We like our Kentish Town conveyancer, however the mortgage company says he's not on their "panel". It seems we have little option but to select one of the lender panel solicitors or retain our Kentish Town property lawyer and pay for one of their panel lawyers to represent them. We consider that this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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 Kentish Town conveyancing solicitor to apply to be on the conveyancing panel.
Do the conveyancing lawyers via your comparison service conduct attended exchange conveyancing in Kentish Town?
There are a few conveyancing experts who can conduct attended exchanges. Please contact us to get a conveyancing quote and details as to dates.
is it true that all Kentish Town solicitor firms on the TSB conveyancing panel are governed by the SRA?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be overseen by the SRA. Some banks do permit licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
My wife and I are spending time viewing houses in Kentish Town and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with Nottingham.
It would be sensible to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are taking out a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Kentish Town building society branch on a couple of occasions and was advised it wasn't an issue and they will lend. My Kentish Town conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the bank panel, they must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Despite weeks of looking the Title Certificate and documents to our property are lost. The conveyancers who dealt with the conveyancing in Kentish Town 10 years ago are no longer around. What are my next steps?
Nowadays there are copies made of almost everything, and your lawyer will know exactly where to locate all the appropriate documentation so you may purchase or dispose of your house without any difficulty. Where duplicates are not available, your solicitor can put in place insurance or indemnities against possible claims on the property.
I'm buying a new build house in Kentish Town with the aid of help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not disclose to my solicitor about this extras as it will put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My fiance is purchasing a basement flat in Kentish Town. He was given a quote by the conveyancing practitioner connected to the selling agents and it came to £1250 . It was 7 years ago I sold and purchased a property and the bill was £500. Have charges really gone up that much?
You should e-mail a few local Kentish Town conveyancing firms seeking estimates. It is advisable to base your choice not only on cost, but on promptness and on how comprehensive the response is.