What happens if my lawyer’s firm is removed from the RBS Solicitor panel ahead of completing my conveyancing in Paddington?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is it correct that all Paddington CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing list of approved practices?
Some major banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
I have paid off my mortgage with HSBC. I assume I don't need a Paddington conveyancing practitioner on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
RBS have agreed my mortgage in principle, my offer on a apartment in Paddington has been agreed to, what are the next steps?
Your estate agent will need to be advised as to your conveyancer's details (make sure the property lawyers are on the bank’s approved list). Telephone RBS or your financial adviser and complete any outstanding documentation. RBS will instruct a valuer who will get in contact with the estate agent or seller to book a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. RBS will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Paddington.
Me and my brother have a 4 bedroom Edwardian house in Paddington. Conveyancing solicitor acted for me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the exact same address. Is it worth asking Godiva Mortgages Ltd to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Paddington and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Paddington differ for new build properties?
Most buyers of new build or newly converted property in Paddington come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Paddington tend to 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 accustomed to new build conveyancing in Paddington or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Paddington is the location of the property. Can you shed any light on this issue?
Flying freeholds in Paddington are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Paddington you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Paddington may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I previously informed by my mortgage company that their panel solicitors work on no sale no fee basis for conveyancing in Paddington. I had a purchase fall through and now the lawyers have invoiced for search fees! They are stating that the fees are independent!
By promising "no sale no fee" Paddington conveyancing firms are waiving their charges for any work done. We must stress this is not to be regarded as an insurance scheme. you will still need to reimburse any disbursements that your property lawyer has outlayed for you for example Paddington local authority searches