Am I correct in assuming that the fact that my solicitor in Neasden is not on my lender's conveyancing panel that there is a problem with the standard of her work?
That is most likely a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Neasden conveyancing firm and ask them why they are no longer on the approved list for your bank.
My son-in-law is buying a new build apartment in Neasden with a mortgage from Skipton. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Skipton conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We decided to purchase a 1 bedroom flat in Neasden with a residential mortgage from Platform Home Loans Ltd.We have a Neasden conveyancing practitioner but Platform Home Loans Ltd says her practice is not on their "panel". We have to appoint a Platform Home Loans Ltd panel lawyer or retain our high street solicitor and fork out for a Platform Home Loans Ltd panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its various provisions, one of which will be that conveyancers will be on the Platform Home Loans Ltd approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
Me and my partner are purchasing a house in Neasden. I might seem paranoid but how we can trust a solicitor? At some point we will need to put funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Can you help - my lawyer says that absentee landlord insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Neasden?
The appropriate level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Barnsley Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
Is it the case that all Neasden solicitor practices on the Coventry BS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do list licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
Will our lawyer be making enquiries about flooding during the conveyancing in Neasden.
Flooding is a growing risk for conveyancers dealing with homes in Neasden. There are those who buy a property in Neasden, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, but there are a numerous searches that can be undertaken by the buyer or by their solicitors which should figure out the risks in Neasden. The standard completed inquiry forms given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to find out whether the property has historically flooded. If flooding has previously occurred which is not notified by the vendor, then a purchaser could commence a claim for damages stemming from an misleading response. The purchaser’s lawyers should also conduct an environmental report. This will reveal if there is a recorded flood risk. If so, more detailed inquiries will need to be made.
How does the Landlord & Tenant Act 1954 affect my business offices in Neasden and how can you help?
The particular law that you refer to gives a safeguard to business lessees, giving them the legal entitlement to make a request to court for a new lease and continue in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Neasden