I am selling my apartment in Harlesden and the EA has just text me to say that the buyers are switching law firm. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. Why would a major mortgage company only engage with certain lawyers rather the firm that they want to choose for their conveyancing in Harlesden ?
Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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 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 not going to have any sway in the decision.
I am need of leasehold conveyancing for a flat in a fairly new development (five years built) in Harlesden. The vast majority the flats are already occupied. Is it really necessary to order neighbourhood searches for my conveyancing in Harlesden?
If you getting a loan, your bank will insist on some (many) of the searches so you'll have no choice. If not, then Harlesden conveyancing searches are for you to decide upon. Your lawyer, will ’encourage’, perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Harlesden.
We note that you have a post code search directory identifying law firms on the HSBC conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Harlesden?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Harlesden.
When reading consumer advice sites for an affordable solicitor in Harlesden, many say that I should look for a CQS assured lawyer. Can you explain what CQS is?
Harlesden Conveyancing Quality Scheme solicitors have obtained certification by the law Society CQS was brought about to promote high standards in the home buying process. CQS helps consumers to recognise practices who provide a quality residential conveyancing. Harlesden is one of locations in England and Wales in which accredited firms have offices. The conveyancing scheme obliges practices to undergo a strict assessment, compulsory training, self-reporting, random audits and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Council of Mortgage Lenders.
Can you point me to a directory of Virgin Money panel conveyancers in Harlesden on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association sites. A small selection of lenders make their panel listings viewable online. If you are seeking to appoint a Harlesden lawyer on the Virgin Money please make the most of our facility.
We previously instructed solicitors locally in Harlesden on the TSB solicitor approved list. They are now charging me a further charge for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your lawyer is entitled to charge a fee for this. The fee is not set by TSB but by your Harlesden lawyer. Some firms on the TSB panel will charge an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
I can not work out if my bank requires a lease extension. I have called my Harlesden building society branch on a couple of occasions and was advised it wasn't a problem and they will lend. My Harlesden conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer must follow the CML Handbook Part 2 specifications for your 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I'm remortgaging my current property to a BTL loan with Barnsley Building Society and I will use the ballance of the raised equity towards further house. The neighborhood we are interested in is Harlesden. Will your lawyers be able to act for both sets of mortgage companies and tie in the conveyances?
Make use of our search tool on this site to ensure that the lawyers are approved by both mortgage companies. On the basis that they are the lawyer should be able to simultaneously deal with the two deals but you should talk with you solicitor and make apparent your expectations and needs.