Unfortunately I am unable to travel far from London Colney. What is the rationale as to why all London Colney solicitors aren't included on all lender panels?
Even though it may seem unfair for lenders to restrict who can act for them, from the public’s or conveyancer’s standpoint, the flip side is that lenders are increasingly anxious and regard it vital to protect them from illegal activities. As a result of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
My fiance and I swapping mortgage lender for our apartment in London Colney with Lloyds. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of questions (1) Is this form unique to the Lloyds conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Lloyds conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Lloyds. This is solely used to protect Lloyds if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Lloyds had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
It is a dozen years since I bought my home in London Colney. Conveyancing solicitors have recently been appointed on the sale but I can't find the deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be kept by your lender or they may stored with the solicitor who oversaw the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. The vast majority of conveyancing in London Colney involves registered property but in the rare situation where your property is unregistered it is more of a problem but is resolvable.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would prefer to use a London Colney based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel lawyers where you accept the "fee-free" incentive. Contact the bank and see if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in London Colney.
I used Arc property Solicitors several years past for my conveyancing in London Colney. I now require my papers but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in London Colney of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Hoping to buy a property located in London Colney and I am already nervous. I couldn't find anything specific about London Colney. Conveyancing will be needed in due course but do you know about the London Colney area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at London Colney. In the meantime here are some basic statistics that we found