My solicitor has uncovered a a problem with the lease for the property we are buying in Harrow. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
Is it the case that all Harrow conveyancing solicitors on the Co-operative conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Co-operative approved list of solicitors they would need to be overseen by the SRA. Many lenders do permit licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
I am due to exchange contracts on my house. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality are being difficult. The Harrow solicitor who is on the Principality conveyancing panel is saying indemnity insurance will be fine but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality 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.
After what feels like an age I have had an offer on a maisonette in Harrow agreed to, but there is a chain. The vendors have put an offer on a property, however it’s not yet agreed to, and are looking at other flats booked. I have chosen a nearby conveyancing solicitor in Harrow. What do I do now? When should I get the mortgage application with Bank of Ireland going?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then valuation, Harrow conveyancing search charges, etc). First, you must ensure that your conveyancer is on the Bank of Ireland approved list. Regarding the subsequent steps this very much depends on the specifics of your transaction, attraction to the property and on the state of the market. In a hot market many buyers would apply for the mortgage with Bank of Ireland and pay for the valuation and only if it was satisfactory would they ask their conveyancer to press on with the conveyancing in Harrow.
I am purchasing a house and the lawyer has raised the issue of Chancel Repair to which the house could be obligated to contribute to because it falls into the area of such a church. She has mentioned insurance. Is this strictly appropriate for conveyancing in Harrow
Unless a previous purchase of the premises completed after 12 October 2013 you can take it that lawyers handling conveyancing in Harrow to continue to propose a a chancel search and or chancel repair liability insurance.
How does conveyancing in Harrow differ for newly converted properties?
Most buyers of new build residence in Harrow approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Harrow tend to buy the land, 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 used to new build conveyancing in Harrow or who has acted in the same development.
I am using a search engine for the term conveyancing in Harrow it brings up numerous conveyancerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for my move?
The best method of choosing the right conveyancer is via trusted recommendation, so seek the opinion of friends and family who have bought a property in Harrow or the respected estate agent or mortgage broker. Costs for conveyancing in Harrow vary, so it's a good idea to obtain at least three fee calculations from varying types of conveyancers. Be sure to seek confirmation what costs in the quote includes.
At what point do I cover the costs of the Stamp Duty Land Tax payable for my purchase in Harrow?
Your conveyancing practitioner should fill out a Land Transaction Return Form on your behalf as part of your Harrow conveyancing transaction for signature. On completion your solicitor will submit the Land Transaction Return Form to the Tax Authorities and - assuming they have the money - discharge any land tax liability for you.