My husband and I are hoping to purchase a home in Neasden and have appointed a Neasden conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Bank of Scotland have this morning contacted us to advise us that there is now an issue as our Neasden conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also represent 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 mortgage company 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 as you are at liberty to use your preferred Neasden lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
We are purchasing our first home. The conveyancer has e-mailedto see if we would like to take out supplemental conveyancing searches. Unfortunately we are clueless as to what's relevant for conveyancing in Neasden
The type of Neasden conveyancing searches depends entirely on the property, the location, the possibility of any of these risks, your familiarity of the region and risks, your overall attitude to risk. What is important is that you adequately comprehend what information the searches could give you. Then you can make a decision if you consider that you need that search. Where you are in doubt, ask the lawyer to advise.
How do I check that the solicitor carrying out my conveyancing in Neasden is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus paying £175.00 in further legal costs.
Please do make use of the search tool on this web page. Pick the lender and type ‘Neasden’ or your preferred area and you will discover a number of lawyer offices in Neasden or near you.
Despite weeks of looking the Title Certificate and documents to our home are lost. The lawyers who did the conveyancing in Neasden 10 years ago no longer exist. Will I be able to sell the house?
These day there are duplicates made of almost everything, and your solicitor should know precisely where to locate all the appropriate paperwork so you may buy or dispose of your house without any difficulty. Where duplicates are not available, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on your premises.
I am looking for a ground for flat up to £305k and identified one close by in Neasden I like with a park and railway links in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Neasden suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Why am I unable to complete my conveyancing in Neasden on Easter Monday?
Because on completion the purchase price needs to be transferred electronically between the banks of the buyer and seller's property lawyer and currently this can only happen on a business day. So you can't complete on a weekend either.