I am purchasing a ground floor flat in Holloway. My property lawyer is not on the bank solicitor list. Can I still continue with my Holloway conveyancing solicitor even though they are excluded from the bank panel of approved conveyancing solicitors?
Various options include
- Complete the deal with your preferred Holloway solicitor but your lender will no doubt instruct a lawyer from their approved list. This will result in additional cost together with potential frustration.
- Appoint a new solicitor to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Convince your conveyancing practitioner to do everything possible to join the bank’s panel of solicitors
Can conveyancing in Holloway to be done in less than a month?
First, If the seller is applying a tight deadline for your conveyancing it is highly recommended that your conveyancer is familiar with the area as they will benefit local connections and insight. It is possible that they could have handled previoushomes in the same street. You would be best advised to use a Holloway conveyancing firm. In addition, check that the conveyancing firm is on the on the approved list for your mortgage company. It is understood that just under twenty per cent of Holloway conveyancing transactions are suspended or jeopardised after finding out that a buyer’s conveyancer was not on their mortgage lender’s panel. In many cases this discovery resulted in the legal transfer of property being frustrated by an average of three weeks. It is believed that this issue affects in the region of one hundred thousand home sales every year. Almost all Holloway conveyancing firms can not represent certain mortgage companies so do check at the outset.
Is there a search tool that I can utilise to find out if the solicitor conducting my conveyancing in Holloway is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Godiva Mortgages Ltd thus paying £187.00 plus VAT in additional legal costs.
You should take advantage of the find a lender approved solicitor tool on this page. Pick the lender and type ‘Holloway’ or your preferred area and you will be presented with a number of lawyer based in Holloway or nearest you.
I am helping my aunt sell her house in Holloway. Does the solicitor arrange the energy assessment or it is for the seller to coordinate?
After the demise of Home Information Packs, EPC’s was left as a mandatory part of selling a house. An energy assessment needs to be to hand in advance of the property being marketed. This is not something that law firms normally organise. If you are using a Holloway conveyancing solicitor they may help arrange energy assessments due to their relationships with long established local accredited person
Can you help - my lawyer advises that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Holloway?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Leeds Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
Our sealed bid on a semi in Holloway has been agreed to, but there is a chain. The owners have offered on on an apartment, however it’s not been accepted yet, and have viewings of other properties booked. I have selected a nearby conveyancing solicitor in Holloway. What do I do now? When should I get the mortgage application with Lloyds going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Holloway conveyancing search costs, etc). First, you should ensure that your conveyancer is on the Lloyds conveyancing panel. Regarding the next stages this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. In a rising market the majority of buyers will apply for a home loan with Lloyds and arrange for the valuation and only if it comes back ok would they request their property lawyer to proceed with searches.
Are there restrictive covenants that are commonly identified during conveyancing in Holloway?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Holloway. 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…’
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.