My partner and I are intent on acquiring an apartment in Chalk Farm. My property lawyer has never been on on the bank solicitor list. Is it possible for me to appoint my Chalk Farm conveyancing solicitor even though they are excluded from the mortgage company panel?
You will need to appoint a conveyancer to complete the formalities if you take out a mortgage to purchase your property. They will carry out all the appropriate legal checks on the property, ensuring that you will be registered as proprietor and ensure that all the necessary mortgage documentation is in order. One can instruct a Chalk Farm property lawyer of your choosing. However, where the property lawyer appointed is not on the lender approved list supplemental charges will be levied as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so where your solicitor has not in the past sought membership they can do so.
My solicitor has discovered a a problem with the lease for the flat we are purchasing in Chalk Farm. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I purchased my flat on 1 October and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Chalk Farm advises it would be registered in less than a month. Are titles in Chalk Farm uniquely lengthy to register?
There is nothing unique about conveyancing in Chalk Farm registration formalities. As opposed to being determined by geographic area, timescales can vary depending on who lodges the application, whether it is in order and if the Land registry have to notify any 3rd persons or bodies. Currently roughly 80% of submission are fully addressed within two weeks but occasionally there can be protracted hold-ups. Registration takes place after the purchaser has moved in to the property so registration formalities is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your solicitor should contact the land registry and explain the circumstances.
Hoping to buy a property located in Chalk Farm and I am already nervous. I couldn't find anything specific about Chalk Farm. Conveyancing will be needed in due course but do you know about the Chalk Farm area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Chalk Farm. In the meantime here are some basic statistics that we found
I need to instruct a conveyancing solicitor for some conveyancing in Chalk Farm. I happened to discover a web site which looks to be the perfect answer If it is possible to get all this stuff done via phone that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Builders have recommended to me a solicitor and I've received a quote from them. They are almost £400 cheaper than my preferred Chalk Farm conveyancing practitioner. Should I use them?
Builders frequently have lists of lawyers who expedite matters and who know the seller’s contract and property lawyer. As many developers offer an inducement to choose a preferred solicitor for this reason, any increased fees can be avoided and a builder will not recommend a conveyancing warehouse and run the risk of having the transaction stall when they need an exchange within a tight time frame. The argument for not opting for the suggested lawyer is that they may prove hesitant to 'push' your interests at the risk of upsetting the developer. Where you have concerns that this may be the case you should keep with your local Chalk Farm lawyer.