My fiance and I are looking to buy a home in Camden Town and are in fact using a Camden Town conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Nottingham Building Society have this afternoon contacted us to inform me that there is now an issue as our Camden Town lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also act for 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 Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Camden Town lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Completion of my remortgage has taken place for my property in Camden Town. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Nottingham have agreed my home loan in principle, my bid on a flat in Camden Town has been agreed to, what are the next steps?
Your estate agent will wish to be advised as to your property lawyer's details (make sure the conveyancers are on the lender’s panel). Contact Nottingham or your broker and finish off any appropriate documentation. Nottingham will instruct a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes on average ten days to get a mortgage offer. Nottingham will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Camden Town.
At last I have had an offer on a flat in Camden Town agreed to, but there is a chain. The owners have offered on a property, but it’s not yet tied up, and are looking at other apartments booked. I have selected a nearby conveyancing solicitor in Camden Town. What should be my next step? When should I get the mortgage application with TSB started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then valuation, Camden Town conveyancing search costs, etc). First, you must ensure that your conveyancing practitioner is on the TSB approved list. As to the subsequent phase this very much depends on the specifics of your case, desire for this property and on the state of the market. During a hot market many purchasers will apply for a home loan with TSB and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with searches.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who dealt with the conveyancing in Camden Town 4 years ago are no longer around. What do I do?
Assuming you have a registered title the information relating to your ownership will be recorded by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, find your property and order up to date copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
About to purchase a new build apartment in Camden Town. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Camden Town
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan.
I have been recommended by numerous selling agents in Camden Town to choose a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to market your lawyers rather than a competitor’s?
We don’t make any referral fee for sending work our way. We thought it would be too underhand a fee as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I see that you have a search directory identifying solicitors on the mortgage company conveyancing panel. Do Camden Town conveyancing firms pay you a commission if I instruct them for my own conveyancing?
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 Camden Town.