It has come to my attention via my lender that my Colney Hatch lawyer is not on the bank Solicitor panel. How can I check?
The first thing you need to do is to contact your Colney Hatch lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they may be able to suggest a Colney Hatch conveyancing practice that is on the approved list of lawyers for your lender.
Should lawyers request an advanced payment for my conveyancing in Colney Hatch?
If you are buying a property in Colney Hatch your lawyer will ask you put them with monies to cover the search fees. Generally this is needed to cover the fees of the Local Authority Search. If any down payment is as part of the purchase price then this should be required immediately before contracts are exchanged. The closing balance that is due will be payable shortly before completion.
I am expecting a AIP from Skipton this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Colney Hatch solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Colney Hatch solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I have a mortgage with Bank of Ireland for my property in Colney Hatch. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
You must advise Bank of Ireland in advance of letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel firm.
I am due to exchange contracts on my house. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Kent Reliance are being problematic. The Colney Hatch solicitor who is on the Kent Reliance conveyancing panel is recommending indemnity insurance as a solution but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
We are a fortnight into a freehold purchase having been directed to a firm by the local agent to perform conveyancing in Colney Hatch. I am am extremely frustrated with the quality of service. Could you you assist me in finding new solicitors?
They would need to be really bad in order to consider replacing them. Has your mortgage been sent? In the event that it has you will need to advise them of the new contact details and get the loan are re-issued. Your solicitor ideally should be on the lenders approved list to avoid escalating fees and complications. That should be your first question of the new solicitors. Our search tool should assist you in finding a lender approved conveyancer for your conveyancing in Colney Hatch
Our lawyer in Colney Hatch has identified a defect with the lease for the apartment we are purchasing in Colney Hatch. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will pay for it. Our solicitor says that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.