Me and my partner are buying a 1 bedroom apartment in Cockfosters with a mortgage. We wish to retain our Cockfosters lawyer, however the bank says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Cockfosters solicitor and pay for one of their panel firms to represent them. This seems very unfair; can we not demand that the lender use our Cockfosters conveyancing practitioner ?
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. A further alternative is for your Cockfosters conveyancing solicitor to apply to be on the conveyancing panel.
I am buying a terraced house in Cockfosters. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Cockfosters you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Cockfosters.
What is the difference between a licensed conveyancer and conveyancing solicitor in Cockfosters
There are many recorded licenced Conveyancers in Cockfosters and Solicitor practices in Cockfosters to choose from It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. Both can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am currently in the process of buying my council flat in Cockfosters. I have a mortgage agreed with Virgin Money. Conveyancing is new to me. 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 Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I have instructed a Cockfosters lawyer having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Cockfosters surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I decided to have a survey completed on a house in Cockfosters prior to retaining lawyers. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies will refuse to grant a loan on this type of house.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cockfosters. Conveyancing will be smoother if you use a solicitor in Cockfosters especially if they are acquainted with such properties in Cockfosters.
Why do I have to supply my property lawyer with numerous items of identification ahead of starting selling or buying a property in Cockfosters?
Cockfosters conveyancers are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current AML Regulations to record that the have checked the identity of their clients. It is also sometimes a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, NI number and date of birth.