Me and my partner are buying a 2 bedroom flat in Muswell Hill with a mortgage. We would like to retain our Muswell Hill lawyer, however the lender says he's not on their "panel". We have to appoint one of the bank panel solicitors or retain our Muswell Hill conveyancing practitioner and pay for one of their panel lawyers to act for them. This feels very unfair; can we not require that the lender use our Muswell Hill lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Muswell Hill conveyancing solicitor to apply to be on the conveyancing panel.
Should conveyancers request an advanced payment when it comes to conveyancing in Muswell Hill?
If you are buying a property in Muswell Hill your lawyer will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the purchase price then this should be required immediately prior to contracts are exchanged. Any further balance that is needed should be transferred shortly before completion.
A colleague recommended that where I am purchasing in Muswell Hill I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Muswell Hill conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Muswell Hill around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Muswell Hill Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Muswell Hill Education with maps and statistics, Local Amenities and other useful information about Muswell Hill.
Are there restrictive covenants that are commonly picked up during conveyancing in Muswell Hill?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Muswell Hill. 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…’
I'm refinancing my current property to a BTL mortgage with Birmingham Midshires and I will use the rest of the raised equity as a down payment on further house. The neighborhood we are looking at is Muswell Hill. Will your conveyancers be able to act for the two banks and tie in the conveyances?
Do use our comparison tool on this site to check that the lawyers are approved by both mortgage companies. Having checked that they are the solicitor should be able to simultaneously deal with the two deals but you should have a chat with you lawyer and communicate your expectations and needs.
Am I best advised to use a Muswell Hill conveyancing practitioner based in the location that I am purchasing? We have a good friend who can carry out the legal work however her office is 200miles drive away.
The benefit of a high street Muswell Hill conveyancing firm is that you can pop in to execute documents, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and they were content that must surpass using an unfamiliar Muswell Hill conveyancing lawyer just because they are Muswell Hill based.