I am expecting a mortgage with Nat West. I intend to use a Licensed Conveyancer in London Colney. Does the Nat West Solicitor panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
The owners of the house we are purchasing have appointed a conveyancing solicitor in London Colney who has recommended a preliminary agreement with a deposit of 5k. Are such agreements sensible?
Lock out contracts are agreements between a property owner and purchaser granting the buyer the sole right to the sale of the premises within an agreed time frame. For all intents and purposes, an exclusivity agreement is a contract stating that you will be issued with a contract at a later time being the main conveyancing contract. It is generally utilised for buyer protection though in some cases, the proprietor may enjoy an upside from such agreements as well. There are various pros and cons to having them but you need to check with your conveyancer but note that it may end up incurring extra in conveyancing charges. For these reasons these contracts are rare in relation to conveyancing in London Colney.
We're in London Colney, First time buyers buying with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have justfound out that Arc property Solicitors have closed. They conducted my conveyancing in London Colney for a purchase of a leasehold flat 12 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of London Colney conveyancing specialists.
I am buying a new build apartment in London Colney. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in London Colney
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Should I be concerned if there is an issue with the searches conducted as part of our conveyancing in London Colney?
Usually, the majority of concerns disclosed in London Colney conveyancing search results can be dealt with ahead of completion or indemnity insurance can be put in place. You need to remember that even though you are acquiring the premises and might be content to accept the search results, your mortgage lender may not, and ultimately have the final decision.