Me and my partner are purchasing a 3 bedroom flat in South London with a mortgage. We would like to retain our South London conveyancer, however the bank advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our South London conveyancer as well as pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your South London conveyancing solicitor to apply to be on the conveyancing panel.
What does my ID and proof of funds have anything to do with my conveyancing in South London? Why is this being asked of me?
It is indeed that case that these requests have nothing to do with conveyancing in South London. Nowadays you can not proceed with any conveyancing deal in the absence handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a utility bill. Please note that if you are supplying your driving licence as proof of identification it must be both the paper element as well as the photo card part, one is not satisfactory without the other.
Evidence of the origin of money is necessary under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your lawyer must have this information on record. Your South London conveyancing practitioner will require evidence of proof of funds prior to accepting any funds from you into their client account and they may also ask additional queries concerning the origin of funds.
Can I be sure that the South London conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in South London seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor carrying out your transaction.
I have decided to exercise my right to buy my property in South London off the council. I have a mortgage offer with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in South London is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the input of my in-laws I had a survey completed on a house in South London prior to instructing lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks may not grant a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in South London. Conveyancing will be smoother if you use a solicitor in South London especially if they are accustomed to such properties in South London.
I was recommended by numerous estate agents in South London to choose a property lawyer on your site. Is there a financial upside for Estate Agents to recommend your lawyers ahead of alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My hope is to purchase a ground floor flat in South London. Conveyancing lawyer has been waiting for, from the seller, building insurance documents. This afternoon I was advised that the vendor must forward the insurance documents for the flat above also. Why does my conveyancer need to review the insurance for the other flat? Is it strictly required? We have been stalled for the last fortnight…
It is not unheard of in leasehold conveyancing in South London to find Conveyancing in South London in a minority of cases reveals that the lease requires the leasehold owners to insure their individual flats rather than the freeholder insuring the entire block - which is clearly preferable. You should clarify with your conveyancing practitioner but it would seem that your lawyer is attempting to verify that the whole building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt as a result of lack of insurance cover.