Am I correct in assuming that the fact that my conveyancer in Swiss Cottage is not listed on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That is more than likely a wrong assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer 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 contact the Swiss Cottage conveyancing practice and ask them why they are no longer on the approved list for your lender.
A relative advised me that if I am buying in Swiss Cottage I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Swiss Cottage conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Swiss Cottage around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Swiss Cottage Education with maps and statistics, Local Amenities and other useful information concerning Swiss Cottage.
I used Action Conveyancing a few years past for my conveyancing in Swiss Cottage. I now require my file but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Swiss Cottage of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Swiss Cottage differ for new build properties?
Most buyers of new build premises in Swiss Cottage contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Swiss Cottage usually purchase the land, 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 conveyancers 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 used to new build conveyancing in Swiss Cottage or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Swiss Cottage I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 years on the lease. I can't really find anything else in Swiss Cottage for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
What should I expect to pay for conveyancing in Swiss Cottage?
Almost all Swiss Cottage conveyancing firms will charge a standard fee. Where further work arise during the transaction your conveyancer is obliged disclose to you in writing of any supplemental fees for such work immediately it becomes obvious. Some work on a no move no fee offering, others will charge a fraction of the set costs, calculated based on the point at which the transaction does not go ahead.
It is advisable to obtain a few conveyancers to give you an estimate.