Unfortunately I am unable to travel far from Neasden. I would like to know the understand why all Neasden conveyancing practitioners aren't included on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to lenders pruning less reputable firms from their books of approved property lawyers .
It is is a decade since I acquired my property in Neasden. Conveyancing solicitors have just been retained on the sale but I am unable to find my title documents. Is this a major issue?
Don’t worry too much. First the deeds may be with your lender or they may be in the possession of the conveyancers who oversaw the purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Neasden relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
I am being told by my lawyer that breach of easement insurance is necessary on my purchase. What is the level of cover for Neasden conveyancing?
The appropriate level of breach of easement indemnity insurance depends on your lender. It would differ for example between Santander and The Royal Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such policies.
I'm the single recipient of my late mum's will with all property in now in my sole name, including the my former home in Neasden. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I do know about the CML six month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the house in August. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most lenders would take a sensible view as this clause chiefly exists to capture subsales or the quick reselling of property.
Santander have agreed my mortgage in principle, my bid on a apartment in Neasden has been agreed to, now what?
The estate agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Call up Santander or the broker and finalise any appropriate forms. Santander will appoint a valuer who will get in touch with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Santander will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Neasden.
Should commercial conveyancing searches reveal impending roadworks that may impact a commercial property in Neasden?
Its becoming the norm that commercial conveyancing solicitors in Neasden will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Neasden. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Neasden.
For every commercial conveyancing transaction in Neasden it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Neasden commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Neasden.
The deeds to my house are lost. The solicitors who handled the conveyancing in Neasden 4 years ago no longer exist. Will I be able to sell the house?
You no longer need to hold title official documentation to prove you own the land or premises, given that the Land Registry hold details of all registered land or property electronically.
When it comes to my conveyancing in Neasden should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Neasden conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.