My fiance and I are planning to buy a property in Hendon and are in fact using a Hendon conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. HSBC Bank have this evening contacted us to inform me that there is now an issue as our Hendon conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Hendon lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Would the conveyancing practitioners that are recommend handle auction conveyancing in Hendon?
We know of a few auction solicitors we can put you in touch with those who can conduct auction conveyancing. Hendon is one of our areas of where our lawyers are based.
Do lenders provide you with an approved list of Hendon conveyancing solicitors? How do you know who is on the Skipton conveyancing panel?
Hendon conveyancing firms themselves provide us confirmation that they are on the Skipton conveyancing panel as opposed to being supplied with a list from Skipton directly.
Is it correct that all Hendon CQS (Conveyancing Quality Scheme) solicitors are on the Bank of Ireland conveyancing panel?
Some major lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
Can you point me to a directory of Santander panel solicitors in Hendon on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings visible over the internet. If you are seeking to appoint a Hendon solicitor on the Santander please use our facility.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Hendon conveyancing practitioner on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I'm buying a new build house in Hendon with a loan from Alliance & Leicester . The developers refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not disclose to my lawyer about this deal as it may adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
The lawyers undertaking our conveyancing in Hendon has forwarded documents to review that indicate that the property is unregistered with epitome documents. Is it not the case that all properties in Hendon are registered?
Although most properties in Hendon are now registered with HM Land Registry there are still some that are unregistered. Any property in Hendon that has been remortgaged since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Hendon property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Hendon conveyancing practitioners should be familiar with this type of conveyancing but if any uncertainty reigns the usual proposition nowadays is for the seller to register the title first and then sell - this will have a knock on effect to cause a significant delay.