I am in the process of selling my flat in Colindale and the EA has just text me to say that the purchasers are swapping law firm. The excuse is that the lender will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only deal with specific lawyers rather the firm that they want to select to handle their conveyancing in Colindale ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
Various online forums that I have frequented warn that are the primary reason for delay in Colindale conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Colindale.
I have todayfound out that Arc property Solicitors have closed. They conducted my conveyancing in Colindale for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The easiest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Colindale conveyancing specialists.
About to purchase a new build apartment in Colindale. 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 few leasehold new build questions that you may expect your new-build leasehold conveyancing in Colindale
There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. 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 control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
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At this site get a fixed fee quote from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Colindale. As opposed to estate agents and brokerage sites we do not charge firms a commission if you instruct them for your property ownership legalities in Colindale