I am one month into the sale of my house in Northwick Park and the estate agent has just text me to warn that the buyers are swapping solicitor. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only engage with certain solicitors rather the firm that they want to choose for their conveyancing in Northwick Park ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders justify this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. 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 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 buyers are not going to have any sway in the decision.
We are only a couple days away from an exchange on a flat in Northwick Park and my parents have sent the exchange deposit to my solicitor. I am now told that as the deposit has not arrived from me my solicitor needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your conveyancing practitioner is duty bound to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
The Northwick Park conveyancing lawyers that just started acting on my purchase in Northwick Park have without warning closed. I only went with them because I needed a solicitor on the Aldermore conveyancing panel and my preferred Northwick Park lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Aldermore conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
We had selected conveyancers locally in Northwick Park on the Nationwide solicitor approved list. They are now charging me a supplemental amount for the legal aspects of the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your property lawyer may charge a fee for this. The fee is not set by Nationwide but by your Northwick Park lawyer. Plenty of firms on the Nationwide panel will levy ’dealing with mortgage’ fee but many firms include it on their overall fee.
Can I be sure that the Northwick Park conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Northwick Park seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer handling your transaction.
Completion of my remortgage has taken place for my property in Northwick Park. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
The deeds to my house are lost. The conveyancers who handled the conveyancing in Northwick Park 10 years ago are no longer around. What are my options?
Nowadays there are copies made of almost everything, and your conveyancer will be aware precisely where to locate all the relevant paperwork so you can buy or sell your property without any difficulty. If duplicates can’t be found, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on your property.
My business partner and I are intending to take over a lease of an office on the high street. Can you recommend conveyancers offering no-move-no charges for non-domestic conveyancing in Northwick Park for less than £2000?
We can recommend firms who have specialist knowledge of commercial conveyancing in Northwick Park, including the disposal and purchase of businesses as well as simply property. If you are hoping to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right solicitor. As for the fees this will depend on the structure and heads of terms of the proposed transaction. Please provide us with your details or call us so that we may provide you with comprehensive commercial conveyancing quote.