My fiance and I are looking to buy a home in Mill Hill and have appointed a Mill Hill conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Lloyds TSB Bank have this afternoon contacted us to advise us that they have now hit a problem as our Mill Hill conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers 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 solicitor should contact your lender 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 and you may continue to use your own Mill Hill solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Why do I have to pay up front when it comes to conveyancing in Mill Hill?
If you are buying a property in Mill Hill your solicitor will ask you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is as part of the sale price then this should be needed shortly before exchange of contracts. Any further balance that is due should be sent to your lawyer a few days prior to the day of completion.
My wife and I are close to exchanging contracts on the sale of our home in Mill Hill and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers instructed an internet conveyancing firm rather than a conveyancing solicitor in Mill Hill. Having lived in Mill Hill for six years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
About to purchase a new build flat in Mill Hill. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Mill Hill
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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. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
My husband and I are FTB’s - had an offer accepted, but the estate agent has warned us that the owners will only proceed if we use the agent's recommended lawyers as they need an ‘expedited deal’. We would rather use a high street solicitor used to conveyancing in Mill Hill
We suspect that the seller is not behind this request. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Try to communicate with the sellers directly and make sure they comprehend that (a)you are serious buyers (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you intend to appoint your preferred Mill Hill conveyancing lawyers - as opposed tothe ones that will earn their estate agent a referral fee or hit his conveyancing targets demanded by head office.
How and when do I pay stamp duty payable for my purchase in Mill Hill?
The majority of property lawyers tend to fill out a Land Transaction Return Form on your behalf during your Mill Hill purchase transaction for signature. After completion your property lawyer will submit the STL Return Form to the Tax Authorities and - assuming they have the funds - settle any land tax due for you.