I can't travel far from Camden Town. What is the rationale as to why all Camden Town property lawyers aren't included on all lender panels?
Even though it may seem unfair for mortgage companies to limit who can act for them, from the public’s or lawyer’s viewpoint, the the contrary view is that lenders are becoming ever more anxious and consider it necessary to protect them from mortgage fraud. As a consequence of this concern banks are limiting their conveyancing panel to a manageable size.
We are purchasing our first house. The property lawyer has contact usto enquire if we want to take out additional conveyancing searches. Unfortunately we in the dark as to what's relevant for conveyancing in Camden Town
The range of Camden Town conveyancing searches should be dictated entirely on the premises, the location, the probability of any of these risks, your knowledge of the locality and risks, your overall attitude to risk. What matters is that you properly comprehend what information the searches could give you. Then you can decide if you personally think you need that information. Should you be in doubt, ask the conveyancer to explain.
Can you clarify what the consequences are if my solicitor is suspended from the Principality Conveyancing panel ahead of completing my conveyancing in Camden Town?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My wife and I are buying a house in Camden Town. It might be a silly question but how we can trust a solicitor? On the day of competition we will need to send money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We were going to get a AIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Camden Town solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Camden Town solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
Nationwide have agreed my mortgage in principle, my offer on a property in Camden Town has been agreed to, now what?
Your property agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Call up Nationwide or your financial adviser and complete any outstanding forms. Nationwide will sellect a valuer who will get in touch with the selling agent or owners to book a time for the valuation to occur. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Nationwide will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Camden Town.
We are intent on selling our house in Camden Town and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Camden Town. Having lived in Camden Town for three years we know of no issue. Do we contact our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
My cousin has urged me to use his conveyancers in Camden Town. Should I find my own property lawyer?
No doubt the ideal way to choose a conveyancing lawyer is to have recommendations from friends or relatives who have actually experience in using the solicitor you're are thinking of instructing.