My fiance and I are hoping to acquire a house in Winchmore Hill and are in fact using a Winchmore Hill conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Alliance & Leicester have this morning contacted us to advise us that there is now an issue as our Winchmore Hill lawyer is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Winchmore Hill solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I used Arc property Solicitors several years past for my conveyancing in Winchmore Hill. Now, I need the files but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate 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 Winchmore Hill of the conveyancing firm of solicitors you previously used, 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 Winchmore Hill differ for new build properties?
Most buyers of new build or newly converted property in Winchmore Hill approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Winchmore Hill tend to buy 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 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 used to new build conveyancing in Winchmore Hill 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 was supposed to be a simple, no chain conveyancing. Winchmore Hill is where the house is located. Can you shed any light on this issue?
Flying freeholds in Winchmore Hill are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Winchmore Hill you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Winchmore Hill may decide 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.
How easy is it to transfer to a new firm as I need to appoint one who is on the HSBC Bank conveyancing list. I hired a local conveyancing solicitor in Winchmore Hill five minutes from me but she is not approved by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in Winchmore Hill on the HSBC Bank panel. Please note that the solicitors that we work with do not pay us a referral fee if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Winchmore Hill. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Winchmore Hill.
Am I best advised to choose a Winchmore Hill conveyancing practitioner based in the vicinity that I am buying? We have a good friend who can conduct the conveyancing however her office is a couple of hundredkilometers drive away.
The primary upside of using a local Winchmore Hill conveyancing practice is that you can visit the firm to execute documents, present your ID and apply pressure on them where appropriate. They will also have local insight which is a plus. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and on the whole were impressed that should surpass using an unknown Winchmore Hill conveyancing solicitor just because they are Winchmore Hill based.