My husband and I are planning to buy a flat in Knightsbridge and have appointed a Knightsbridge conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. TSB have this afternoon contacted us to inform me that they have now hit a problem as our Knightsbridge lawyer is not on their conveyancing panel. Is this a problem?
Where you are buying a property needing a mortgage it is normal for the purchasers' lawyers 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 property lawyer 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 solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Knightsbridge solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Do lawyers ask for money up-front for my conveyancing in Knightsbridge?
Where you are retaining lawyers for conveyancing in Knightsbridge your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the purchase price then this should be asked for shortly prior to contracts are exchanged. The final balance that is due should be transferred a few days prior to the day of completion.
Is there a search tool that I can utilise to check that the solicitor conducting my conveyancing in Knightsbridge is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus paying £192.00 in another set of conveyancing charges.
Please do take advantage of the find a lender approved solicitor tool on this web page. Please choose the lender and type ‘Knightsbridge’ or your location and you will be presented with a number of lawyer offices in Knightsbridge or nearest you.
I am expecting a OIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Knightsbridge solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Knightsbridge solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
The formalities of my purchase has taken place for my property in Knightsbridge. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am selling my house. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Clydesdale are being problematic. The Knightsbridge solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been told that property searches are the main cause of hinderance in Knightsbridge conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Knightsbridge.
I have todaydiscovered that Action Conveyancing have closed. They conducted my conveyancing in Knightsbridge for a purchase of a leasehold apartment 12 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The easiest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Knightsbridge conveyancing specialists.