Our lawyer has identified a a problem with the lease for the apartment we are buying in Crouch End. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer says that he must be satisfied that the bank is content with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
Do the Building Society Association intend to launch a searchable register to list law firms on the Loughborough BS conveyancing panel for instance in Crouch End?
We would not expect to be advised of any plans on the part of the BSA to develop such a search facility.
Should I be wary about brokers that I am dealing with are recommending a nationwide conveyancing firm as opposed to a High Street Crouch End conveyancing firm?
As is the case with many service providers, often input from connections can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, financial adviser and mortgage companies might all suggest conveyancers to use. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the endorsement. You have the right to choose your own lawyer. You need to be aware that many banks have an approved list of solicitors you have to use for the lender aspect of your home move.
Am I better off to go with a Crouch End conveyancing lawyer based in the vicinity that I am hoping to buy? I have an old university friend who can conduct the conveyancing but his firm is located approximately 350miles drive away.
The benefit of a high street Crouch End conveyancing practice is that you can pop in to sign paperwork, present your ID and apply pressure on them if necessary. They will also have local knowledge which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and the majority were happy that must outweigh using an unfamiliar Crouch End conveyancing solicitor just because they are Crouch End based.
My wife and I have instructed a Crouch End conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the Ts and Cs that they are not overseen by the Financial Conduct Authority. Should I be worried or is that standard with conveyancing practitioner?
We can't see why they should be. Most conveyancing practitioner don't lend money. They will be governed by the Solicitors Regulation Authority, who set strict stipulations regulating amounts sitting by them.