My husband and I are planning to buy a house in Lisson Grove and are in fact using a Lisson Grove conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Barclays Direct have this morning contacted us to advise us that they have now hit a problem as our Lisson Grove solicitor is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. 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 solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Lisson Grove solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
The property market in Lisson Grove is heating up. What can be done to speed up the conveyancing process?
In a situation where you are under pressure to complete we would recommend that your lawyer is familiar with the location as they will benefit local contacts and insight. It is even conceivable that they could have transacted otherhomes in the same road. You would be best advised to use a Lisson Grove conveyancing firm. Second, double check that the lawyer is on the on the approved list for your mortgage company. It is understood that 18% of Lisson Grove conveyancing transactions are held up or jeopardised after finding out that a buyer’s lawyer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the home move being delayed by an average of 21 days. It is believed that this issue impacts in the region of 100,000 home moves annually. Almost all Lisson Grove conveyancing firms can not represent certain banks so do check at the outset.
What does my ID and proof of funds have anything to do with my conveyancing in Lisson Grove? Why is this being asked of me?
In order to comply with Money Laundering Regulations any Lisson Grove conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to validate not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this may result in your lawyer ending their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to inform the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
My wife and I purchased a renovated Georgian house in Lisson Grove. Conveyancing solicitor acted for me and Clydesdale. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lisson Grove and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing lawyer who conducted the purchase.
I am selling my home. My past conveyancers has retired. I am in need of a recommendation of a conveyancing firm. Im based in Lisson Grove if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Lisson Grove. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
In sourcing the web for the term conveyancing in Lisson Grove it reveals numerous solicitorsin the area. How do I determine which is the suitable conveyancing solicitor for my move?
The preferential way of seeking a suitable conveyancer is via trusted recommendation, so seek the guidance of colleagues and those you trust who have bought a property in Lisson Grove or the reputable estate agent or financial adviser. Charges for conveyancing in Lisson Grove vary, so it's advisable to request at least three costs illustrations from different law firms. Be sure to secure confirmation that the fees are fixed.