Unfortunately I am unable to travel far from Chalk Farm. I would like to know the understand why all Chalk Farm lawyers aren't automatically on all lender panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies culling less reputable firms off their panel of approved solicitors .
All was ready to move into my new home in Chalk Farm next Thursday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These requirements are not unique to conveyancing in Chalk Farm.
It has been five months since my purchase conveyancing in Chalk Farm took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey completed on a house in Chalk Farm before retaining lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks may refuse to give a mortgage on such a property.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chalk Farm. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it simple use the search tool to locate a conveyancing lawyer in Chalk Farm on the approved list for my lender?
First choose a mortgage company such as Lloyds TSB Bank, Bank of Scotland or TSB then choose your preferred area a common one being Chalk Farm. Conveyancing firms in Chalk Farm and further afield will then be identified.
We're new to the buying process - agreed a price, yet the selling agent informed us that the seller will only proceed if we appoint the agent's recommended solicitors as they want an ‘expedited deal’. We would rather use a local solicitor used to conveyancing in Chalk Farm
We suspect that the seller is not behind this ultimatum. Should the seller desire ‘a quick sale', alienating a serious purchaser is is going to put the whole deal at risk. Contact the vendors directly and explain that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to appoint your preferred Chalk Farm conveyancing solicitors - rather thanthose that will earn the estate agent a kickback or achieve conveyancing figures demanded by senior management.