I am selling my maisonette in Hampstead Garden Suburb and the EA has just telephoned to warn that the purchasers are changing their law firm. The reason given is that the bank will only engage with property lawyers on their approved list. On what basis would a big named lender only engage with specific solicitors rather the firm that they want to select for their conveyancing in Hampstead Garden Suburb ?
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 Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders attribute this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose 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. 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. The purchasers are unlikely to have any sway in the decision.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Hampstead Garden Suburb so that I can pop in to their offices when needed.
Nowadays conveyancing panel lawyers for banks carry out their communications via the post, e-mail or over phone calls. This enables them to conduct the conveyancing transaction regardless of where you live in the country. However you should check if you can still book an appointment to visit conveyancing lawyer if you prefer.
I am assisting my sister sell her house in Hampstead Garden Suburb. Will the solicitor arrange an EPC or should I organise this?
Following the abolition of HIPs, EPC’s was maintained a required part of moving property. An energy performance certificate must be to hand in advance of the property being put on the market. It is not something that lawyers ordinarily organise. If you are using a Hampstead Garden Suburb conveyancing practitioner they might help arrange energy assessments given their relationships with long established local accredited person
When it comes to mortgage companies such as Nottingham, do Hampstead Garden Suburb conveyancers face a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Hampstead Garden Suburb bank branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Hampstead Garden Suburb conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their specific requirements. Who do I believe?
Provided that the solicitor is on the mortgage company panel, they must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there restrictive covenants that are commonly picked up during conveyancing in Hampstead Garden Suburb?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hampstead Garden Suburb. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a flat up to £235,500 and found one close by in Hampstead Garden Suburb I like with amenity areas and station nearby, the downside is that it only has 51 years on the lease. There is not much else in Hampstead Garden Suburb for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
What tools are available to identify a Hampstead Garden Suburb solicitor on the Chelsea Building Society conveyancing panel? I have a car and am prepared to travel upto 10kilometers to meet the conveyancer.
You can use the search on this page. Please select a lender and your location and you will see a number of Hampstead Garden Suburb conveyancing lawyers locally. We have listed some Hampstead Garden Suburb conveyancing firms at the bottom of this page and you can contact them to check if they are on the Chelsea Building Society panel