I am in the process of selling my flat in Golders Green and the estate agent has just telephoned to advise that the purchasers are switching law firm. The excuse is that the lender will only deal with solicitors on their conveyancing panel. Why would a leading lender only work with certain law firms rather the firm that they want to select to handle their conveyancing in Golders Green ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks attribute this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some 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 purchasers are not going to have any sway in the decision.
Why do I have to pay up front for conveyancing in Golders Green?
Where you are retaining lawyers for conveyancing in Golders Green your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the sale price then this should be required immediately in advance of contracts are exchanged. The final balance that is needed will be payable shortly before completion.
We're in Golders Green, First time buyers purchasing with a mortgage (lender is Santander , and our solicitor is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
There is lots of information on this site regarding conveyancing in Golders Green but what is your top tip for appointing the right conveyancer in Golders Green
Do not opt for the cheapest Golders Green conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
When it comes to mortgage companies such as Clydesdale, do Golders Green conveyancing practitioners face a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being problematic. The Golders Green solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Golders Green I like with open areas and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in Golders Green in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
In my capacity as executor for the will of my grandfather I am disposing of a residence in Swansea but live in Golders Green. My solicitor (who is 250 kilometers from mehas requested that I sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Golders Green to attest this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Golders Green based