I am nearing exchange of contracts for my home in Hampstead and the estate agent has just called to advise that the purchasers are changing their law firm. The reason given is that the lender will only deal with solicitors on their conveyancing panel. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Hampstead ?
Lenders have always had panels of law firms they are willing to work with, but in the last 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 more than 15 years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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. Your buyers are unlikely to have any impact on this.
We are purchasing a victorian detached house in Hampstead. We would like to convert the garage to a playroom at the house.Will legal conveyancing on the property involve enquiries to see if these alterations were previously refused?
Your property lawyer should review the deeds as conveyancing in Hampstead will occasionally reveal restrictions in the title deeds which prohibit categories of works or require the permission of a 3rd party. Some extensions require local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be prudent to check these issues with a surveyor prior to committing yourself to a purchase.
is it true that all Hampstead conveyancing solicitors on the UBS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the UBS approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do allow licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
The mortgage over my property is with Principality for my property in Hampstead. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Principality must be informed of your intention prior to letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel firm.
Various online forums that I have visited warn that are the number one reason for hinderance in Hampstead house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Hampstead.
I need to instruct a conveyancing lawyer in Hampstead for my home move. Is it possible to see a firm’s complaints history with the profession’s regulator?
One can find presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training requirements.
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Hampstead. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Hampstead are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Hampstead so you should seriously consider looking for a Hampstead conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I have had difficulty in negotiating a lease extension in Hampstead. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Hampstead conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hampstead property is Raised Ground Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case affected 2 flats. The unexpired term was 16.83 and 16.43.
My wife and I have recently appointed a conveyancing solicitor in Hampstead. I need to find out if they are listed on the lender's approved list of lawyers. Can you or the bank confirm if they are on the panel?
It’s a good idea call your conveyancer to enquire if they are on the lender's panel. If that does not help get in touch with us and we can investigate and revert. Should the firm not be on the lender panel we we can help find a quality conveyancing solicitor in Hampstead on the approved list for your lender.