Unfortunately I am unable to travel far from Bowes Park. Is there a reason why all Bowes Park solicitors are not on all bank panels?
Pre- 2008 most banks exhibited an approach to risk which is different than today. The Financial Services Authority in 2010 carried out a thematic review into fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, mortgage companies have since soughtmore data from law firms concerning their operations and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Thousands of law practices have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum volume of transactions the lenders set.
IfI was to acquire a simple residential propertyin Bowes Park for cash and have no survey and no local authority searches how much should I expect to have to pay for conveyancing in Bowes Park?
Any savings you would gain will be isolated to the disbursement for searches. A conveyancing practitioner is required to do the vast majority of work - money laundering, liaising with your sellers lawyer, SDLT return, register the title etc. You might save a bit for them not having to register a charge but it won't be significant.
My fiance and I are purchasing a purpose built flat in Bowes Park with a loan from Clydesdale.We would like to retain our Bowes Park conveyancing solicitor but Clydesdale says her practice is not on their approved list of member firms. We have to appoint a Clydesdale panel solicitor or keep our preferred solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Clydesdale use our lawyer?
No, not really. The home loan issued to you contains terms and conditions, one of which will be that solicitors will be on the Clydesdale approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Clydesdale
Due to the input of my in-laws I had a survey completed on a house in Bowes Park ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bowes Park. Conveyancing will be smoother if you use a solicitor in Bowes Park especially if they are accustomed to such properties in Bowes Park.
Given that I am about to spend £400,000 on a two bedroom apartment in Bowes Park I wish to talk to a lawyer about mytransaction before giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you first talking to the lawyer who will be doing your property ownership legalities in Bowes Park.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter reference. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Bowes Park should be the figure that you end up paying.
My cousin has urged me to use his conveyancers in Bowes Park. Should I find my own conveyancer?
No doubt the ideal way to find a conveyancing practitioner is to get referrals from friends or relatives who have experience in using the firm you're contemplating using.