Am I correct in assuming that the fact that my conveyancer in Albany Park is not identified on my lender's conveyancing panel that there is a problem with the quality of her work?
That is more than likely a wrong assumption to make. There are plenty of plausible explanations. A recent 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 solicitor 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 Albany Park conveyancing firm and ask them why they are no longer on the approved list for your lender.
It is 10 years ago since I bought my house in Albany Park. Conveyancing lawyers have recently been instructed on the sale but I can't track down the title deeds. Will this cause complications?
Don’t worry too much. First there is a chance that the deeds will be with your mortgage company or they may be in the possession of the solicitor who handled your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Albany Park involves registered property but in the unlikely event that your property is unregistered it is more of a problem but is resolvable.
I had intended to instruct a property lawyer in Albany Park for our house move. Our broker has since advised us that our mortgage lenders Bank of Scotland won't deal with them. Surely this is unduly restrictive?
Banks on the whole imposes restrictions either the type or the volume of conveyancing practices on their panel. A common example of such criteria being that a law practice must not be a sole practitioner. As well as restricting the profile of firm, some have limited the amount of firms they permit to represent them. You should note that Bank of Scotland have no responsibility for the quality of advice provided by any member of Bank of Scotland Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels since 2008 even though there are differing opinions concerning the level of solicitor engagement in some of that fraud. Data from the Land Registry reveal that hundreds of law firms, including some in or near Albany Park only conduct very few conveyances a year.
We had appointed solicitors locally in Albany Park on the Nationwide solicitor approved list. They are now charging me a further fee for handling the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer may levy a fee for this. This fee is not set by Nationwide but by your Albany Park lawyer. Plenty of firms on the Nationwide panel will charge ’dealing with mortgage’ fee and others do not.
I have a mortgage with UBS for my property in Albany Park. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
UBS must be informed of your intention prior to renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel solicitor.
Co-operative have agreed my mortgage in principle, my offer on a property in Albany Park has been agreed to, now what?
Your estate agent will need to know who your solicitors are (make sure the lawyers are on the lender’s panel). Call up Co-operative or your financial adviser and finalise any relevant documentation. Co-operative will sellect a valuer who will get in touch with the selling agent or seller to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes about ten days to receive the mortgage offer. Co-operative will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Albany Park.
What does commercial conveyancing in Albany Park cover?
Albany Park conveyancing for business premises covers a broad range of advice, provided by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I need to find a conveyancing solicitor for remortgage conveyancing in Albany Park. I have chance upon a web site which looks to be the ideal answer If it is possible to get all the legals completed via email that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?