Me and my partner are purchasing a 1 bedroom flat in Cockfosters with a mortgage. We like our Cockfosters solicitor, however the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Cockfosters property lawyer as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
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 lawyer to apply to be on the conveyancing panel.
My conveyancer has informed me that chancel insurance is required on my purchase. What is the level of cover for Cockfosters conveyancing?
The right level of chancel indemnity insurance depends on who your lender is. It would differ for example between Halifax and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such policies.
is it true that all Cockfosters solicitors on the Principality conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Principality conveyancing panel they would need to be overseen by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
We had chosen solicitors located in Cockfosters on the Clydesdale solicitor panel. They are now charging me a further amount for dealing with the Clydesdale mortgage. Is this a supplemental conveyancing fee set by Clydesdale?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your property lawyer is entitled to levy a fee for this. This fee is not set by Clydesdale but by your Cockfosters property lawyer. Numerous firms on the Clydesdale panel will quote ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
Will my lawyer be making enquiries about flooding during the conveyancing in Cockfosters.
The risk of flooding is if increasing concern for lawyers dealing with homes in Cockfosters. There are those who buy a house in Cockfosters, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a numerous searches that may be undertaken by the purchaser or by their conveyancers which should give them a better appreciation of the risks in Cockfosters. The conventional set of information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover whether the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the owner, then a purchaser could issue a legal claim for losses as a result of such an incorrect response. The buyer’s solicitors will also commission an enviro search. This will indicate whether there is a recorded flood risk. If so, additional inquiries should be initiated.
How easy is it to swap solicitor as I have to appoint one who is on the Norwich and Peterborough Building Society conveyancing list. I had appointed a local conveyancing solicitor in Cockfosters round the corner but she is not accepted by Norwich and Peterborough Building Society
We will our best to assist in finding you a conveyancing solicitor in Cockfosters on the Norwich and Peterborough Building Society panel. Please note that the property lawyers that we on the directory do not pay us a referral fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Cockfosters. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Cockfosters.
I happen to be an executor of my recently deceased parent's Will, with a bungalow in Cockfosters which is to be sold. The property is unregistered at the Land Registry and I'm told that some EAs will insist that it is completed before they'll proceed. What's the mechanism for this?
In the situation you refer to it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.