My partner and I are planning to acquire a property in Bounds Green and are in fact using a Bounds Green conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barnsley Building Society have this evening contacted us to advise us that they have now hit a problem as our Bounds Green solicitor is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. 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 Quality Scheme. Your property lawyer 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 as you are at liberty to use your preferred Bounds Green lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Would the conveyancing lawyers identified via your search app perform right to buy conveyancing in Bounds Green?
We do have numerous conveyancing practitioners who can service right to buy transactions You should call us with a view to secure a costs calculation.
As someone unfamiliar with the Bounds Green conveyancing process what’s your top tip you can give me for the legal transfer of property in Bounds Green
Not many law firms shout this from the rooftops but conveyancing in Bounds Green and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there is plenty of opportunity for conflict between you and other parties involved in the legal transfer of property. For example, the vendor, estate agent and sometimes the bank. Appointing a lawyer for your conveyancing in Bounds Green an important selection as your conveyancer is your adviser, and is the ONE party in the transaction whose role it is to act in your legal interests and to protect you.
Every so often a potential adversary may try and convince you that you should follow their advice. For instance, the estate agent may claim to be helping by suggesting your conveyancer is dragging his heels. Or your mortgage broker may advise you to do something that is against your lawyers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am looking for a flat up to £245,000 and found one close by in Bounds Green I like with amenity areas and station nearby, however it only has 51 years on the lease. I can't really find anything else in Bounds Green in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
How simple is it to change solicitor as I need to select a firm on the Chelsea Building Society conveyancing panel. I hired a local conveyancing solicitor in Bounds Green round the corner but she is not accepted by Chelsea Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Bounds Green on the Chelsea Building Society panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Bounds Green. Using the find a conveyancing solicitor tool on this website, you can scrutinise fees for conveyancing solicitors in Bounds Green and beyond.
I see that you have a search directory identifying solicitors on the lender conveyancing panel. Do Bounds Green conveyancing companies pay you a referral fee if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Bounds Green.