I am progressing with the sale of my house in Muswell Hill and the estate agent has just text me to advise that the purchasers are switching solicitor. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a leading lender only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Muswell Hill ?
Lenders have always had panels of law firms they are content to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lending institutions blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
I need some expedited conveyancing in Muswell Hill as I have a deadline to complete in less than 3 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to do searches although no law firm would recommend that you don't. Drawing on our experience of conveyancing in Muswell Hill the following are instances of what can be revealed and therefore impact market value: Enforcement Notices, Overdue Fees, Overdue Grants, Unadopted Roads,...
I purchased my flat on 4 August and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Muswell Hill said it should be recorded inside ten days. Are transfers in Muswell Hill particularly slow to register?
There is nothing unique when it comes to conveyancing in Muswell Hill registration formalities. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any 3rd persons or bodies. Currently roughly three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Registration is effected once the buyer is living at the property thus 'speed' is not usually primary concern but if there is a degree of urgency associated with the registration then you or your conveyancer can contact the land registry and explain the circumstances.
How does conveyancing in Muswell Hill differ for new build properties?
Most buyers of new build property in Muswell Hill come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because developers in Muswell Hill typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Muswell Hill or who has acted in the same development.
I opted to have a survey done on a property in Muswell Hill ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend refuse to issue a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you contact us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Muswell Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Muswell Hill to see if the conveyancing costs will increase in light of this.
In my capacity as executor for the estate of my father I am selling a residence in Newport but I am based in Muswell Hill. My lawyer (approximately 250 kilometers awayhas requested that I execute a stat dec before the transaction finalising. Could you suggest a conveyancing practitioner in Muswell Hill to witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are located in Muswell Hill