I am in the process of selling my home in Cricklewood and the EA has just called to advise that the purchasers are swapping solicitor. The reason given is that the bank will only deal with solicitors on their approved list. Why would a leading mortgage company only deal with specific law firms rather the firm that they want to select to handle their conveyancing in Cricklewood ?
UK lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
I am purchasing a house without a mortgage in Cricklewood. I have lived for the previous 20 years in Cricklewood. Conveyancing searches are exorbitant. As I know the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then the vast majority of the Cricklewood conveyancing searches are non-obligatory. Your lawyer will 'advise', no-doubt strongly, that you should have searches completed, but she is duty bound to do this. One thing to consider; if you are intend to sell the house one day, it will be of relevance to your future buyer what the searches reveal. There are plenty of instances where houses with day to day issues can still throw up negative search results. A competent conveyancing solicitor in Cricklewood should be able to give you some practical guidance in this regard.
What is the difference between a licensed conveyancer and conveyancing solicitor in Cricklewood
Two types of professional can perform conveyancing in Cricklewood namely CLC regulated conveyancers or solicitors. Both professionals handle conveyancing services that you need to complete the disposal or purchase of property. They are both duty bound to carry out Cricklewood conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be professionally administered and that the requirements and steps will be appropriately adhered to.
We are aiming to move house in December. Does my conveyancing solicitor update the removal company on the completion day. On a separate note, can you recommend a removal company in Cricklewood. Conveyancing solicitor was found before I stumbled across your website.
On the afternoon of completion you can collect the keys from the property agent but this should only happen after the previous owners lawyers confirm to the agent that the monies to complete are in and the keys can be passed over. You will need to tell the removal company that they can start moving you in. We do not recommend a specific removal company but can help you locate a conveyancing in Cricklewood or a solicitor that specialises in conveyancing in Cricklewood.
My partner and I have arranged a further advance on our home loan from Nationwide as we intend to carry out alterations to our home in Cricklewood. Are we obliged to choose a nearby Cricklewood solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide don't usually appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
It has been four months since my purchase conveyancing in Cricklewood completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 residence 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.
How does conveyancing in Cricklewood differ for newly converted properties?
Most buyers of new build residence in Cricklewood come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is built. This is because builders in Cricklewood tend to purchase 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 accustomed to new build conveyancing in Cricklewood or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Cricklewood ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies will not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cricklewood. Conveyancing may be slightly more expensive based on your lender's requirements.