I am progressing with the sale of my house in Muswell Hill and the estate agent has just telephoned to warn that the buyers are swapping solicitor. The reason given is that the lender will only engage with solicitors on their approved list. On what basis would a leading lender only engage with specific solicitors rather the firm that they want to select to handle their conveyancing in Muswell Hill ?
Banks have always had panels of law firms that can represent them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
I require conveyancing for a flat in a fairly new development (five years old) in Muswell Hill. The vast majority the properties are already sold. Do I need carry out the conveyancing searches for my conveyancing in Muswell Hill?
You are putting yourself at risk in refusing to carrying out Muswell Hill conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that your lawyer conducts them. If time pressures and expenses are top of your issues you should consider with your lawyer about the possibility of search insurance
In what way does my ID and proof of funds have anything to do with my conveyancing in Muswell Hill? Is this really warranted?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Client Care letter that you need to sign should reaffirm this. Your lender will also require certain documents to be viewed. Should you refuse to hand over ID verification documents, your solicitor would not be able to act for you.
It has been four months following my purchase conveyancing in Muswell Hill completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in Muswell Hill. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Muswell Hill
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared.
What is the best way of identifying a freehold conveyancing in Muswell Hill?
Option 1 is to ask the people you trust who they used in the past and if they were happy with the service. Option 2 is to search the web for conveyancing in Muswell Hill. Phone two or three from the list and request that they email you their conveyancing estimate and discuss your needs with the solicitor who will handle your conveyancing before you make your choice. Third is to make use of our search tool to help you find the right solicitors taking into account your unique factors including location,speed, complexity and who the proposed lender is.Avoid the trap of appointing lowest cost conveyancing solicitors in Muswell Hill