I am nearing exchange of contracts for my home in Colindale and the estate agent has just called to say that the buyers are changing their solicitor. The reason given is that the lender will only engage with property lawyers on their conveyancing panel. Why would a big named lender only engage with certain lawyers rather the firm that they want to choose for their conveyancing in Colindale ?
Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lending institutions blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
Can your site be used to find a Conveyancing solicitor in Colindale even if I’m not purchasing or selling a house, for instance where I intend to acquire an office in Colindale with a loan from Santander?
Our search tool is primarily used to get a quote from residential conveyancing solicitors in Colindale but we have listed towards the end of this page a selection of Colindale commercial conveyancing firms. You will need to enquire with the firm directly to check if they can also act for Santander
How does conveyancing in Colindale differ for newly converted properties?
Most buyers of new build or newly converted property in Colindale approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Colindale typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Colindale or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Colindale is the location of the property. What do you suggest?
Flying freeholds in Colindale are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Colindale you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colindale may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am thinking of appointing a conveyancing lawyer in Colindale for my sale. Can I review a solicitor's record with the legal regulator?
Anyone may search for presented Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator could monitor telephone calls for training reasons.
What range of conveyancing services do Colindale conveyancing solicitors typically advise on?
On the whole Colindale conveyancing practices tend to offer a number of legal advice to domestic and agricultural land proprietors, vendors, first time buyers, freeholders and leaseholders including the following:
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Domestic sale conveyancing in Colindale and throughout the rest of the country
House purchase conveyancing in Colindale and nationwide
Drafting bespoke leases for individuals needs Drafting and advising on leases and tenancy agreements Buying and selling of garden land Buying and selling via auction